Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.21.2
BUSINESS SEGMENTS
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 16: BUSINESS SEGMENTS
The Company has two reportable segments: Branded CPG and Flavors & Ingredients. In addition, beginning with the first quarter of 2021, the Company’s corporate office functions are now 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. Certain prior year amounts have been reclassified to conform to the current presentation. 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):
(Successor) (Predecessor)
Three Months Ended
September 30, 2021
Three Months Ended
September 30, 2020
Nine Months Ended
September 30, 2021
From
June 26, 2020 to September 30, 2020
From January 1, 2020 to June 25, 2020
Product revenues, net
Branded CPG $ 102,693  $ 41,006  $ 283,585  $ 43,557  $ 80,749 
Flavors & Ingredients 26,248  25,996  77,674  27,923  47,579 
Total product revenues, net $ 128,941  $ 67,002  $ 361,259  $ 71,480  $ 128,328 
Operating income (loss)
Branded CPG $ 10,090  $ 7,138  $ 30,507  $ 7,215  $ (5,055)
Flavors & Ingredients 9,520  (435) 14,230  (646) (23,718)
19,610  6,703  44,737  6,569  (28,773)
Corporate (6,094) (5,639) (28,310) (5,822) (9,408)
Total operating income (loss) $ 13,516  $ 1,064  $ 16,427  $ 747  $ (38,181)
The following table presents geographic information based upon revenues of the Company’s major geographic markets (in thousands):
(Successor) (Predecessor)
Three Months Ended
September 30, 2021
Three Months Ended
September 30, 2020
Nine Months Ended
September 30, 2021
From
June 26, 2020 to September 30, 2020
From
January 1, 2020 to June 25, 2020
Branded CPG:
North America $ 72,285  $ 14,642  $ 190,699  $ 15,514  $ 29,927 
Europe 18,197  16,934  58,135  17,816  31,837 
India, Middle East and Africa 3,267  2,262  9,522  2,493  3,778 
Asia-Pacific 5,732  3,820  16,552  4,189  9,328 
Latin America 3,212  3,348  8,677  3,545  5,879 
Flavors & Ingredients 26,248  25,996  77,674  27,923  47,579 
Total product revenues, net $ 128,941  $ 67,002  $ 361,259  $ 71,480  $ 128,328