Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

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BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 14: BUSINESS SEGMENTS
The Company has two reportable segments: Branded CPG and Flavors & Ingredients. In addition, the Company’s corporate office functions are reported and included under Corporate. Corporate is not a reportable or operating segment but is included for reconciliation purposes and includes the costs for the corporate office administrative activities as well as transaction-related and other costs. The Company does not present assets by reportable segments as they are not reviewed by the Chief Operating Decision Maker for purposes of assessing segment performance and allocating resources.
The following table presents selected financial information relating to the Company’s business segments (in thousands):
Three Months Ended
March 31, 2024 March 31, 2023
Product revenues, net
Branded CPG $ 98,453  $ 102,010 
Flavors & Ingredients 31,047  30,407 
Total product revenues, net $ 129,500  $ 132,417 
Operating income
Branded CPG $ 4,983  $ (843)
Flavors & Ingredients 8,590  9,536 
13,573  8,693 
Corporate (10,448) (5,692)
Total operating income $ 3,125  $ 3,001 
The following table presents disaggregated revenue information for the Company (in thousands):
Three Months Ended
March 31, 2024 March 31, 2023
Branded CPG:
North America $ 72,739  $ 74,054 
Europe 14,788  15,969 
India, Middle East and Africa 2,612  3,153 
Asia-Pacific 4,809  5,815 
Latin America 3,505  3,019 
Flavors & Ingredients 31,047  30,407 
Total product revenues, net $ 129,500  $ 132,417