| Schedule of Segment Reporting Information |
The following tables set forth financial information about each of the Company’s reportable segment’s revenue, significant segment expenses and measure of segment profit or loss for the fiscal years ended June 30, 2026 and 2025. Information about total assets by segment is not disclosed because such information is not reported to or used by the Company’s CODM for purposes of assessing segment performance or allocating resources. Transactions between reportable segments were insignificant for all periods presented.
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Fiscal Year Ended June 30, |
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2026 |
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2025 |
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Net Sales: |
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North America |
|
$ |
685,053 |
|
|
$ |
888,626 |
|
International |
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|
668,376 |
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|
671,154 |
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|
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|
1,353,429 |
|
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|
1,559,780 |
|
Cost of sales, adjusted to exclude restructuring activities: |
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North America |
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|
(522,775 |
) |
|
|
(693,951 |
) |
International |
|
|
(553,159 |
) |
|
|
(530,006 |
) |
|
|
|
(1,075,934 |
) |
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|
(1,223,957 |
) |
Marketing expense: |
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North America |
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|
(34,150 |
) |
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|
(41,462 |
) |
International |
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(14,850 |
) |
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(18,760 |
) |
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(49,000 |
) |
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(60,222 |
) |
Other selling, general and administrative expenses, adjusted to exclude restructuring activities and depreciation and amortization: |
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North America |
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|
(81,142 |
) |
|
|
(102,867 |
) |
International |
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(67,420 |
) |
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(64,323 |
) |
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(148,562 |
) |
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(167,190 |
) |
Depreciation and amortization and other adjustments: |
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North America |
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14,250 |
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|
15,124 |
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International |
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|
30,511 |
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|
27,935 |
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|
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|
44,761 |
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|
43,059 |
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Segment Adjusted EBITDA: |
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North America |
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61,236 |
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|
65,470 |
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International |
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63,458 |
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|
86,000 |
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Total Reportable Segments Adjusted EBITDA |
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124,694 |
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151,470 |
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Corporate and Other |
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(35,686 |
) |
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(37,681 |
) |
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89,008 |
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|
113,789 |
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Depreciation and amortization |
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(52,552 |
) |
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(44,259 |
) |
Equity in net loss of equity-method investees |
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|
(351 |
) |
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(1,813 |
) |
Interest expense, net |
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(50,154 |
) |
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(47,773 |
) |
Benefit (provision) for income taxes |
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2,208 |
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(15,297 |
) |
Stock-based compensation, net |
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(5,471 |
) |
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(8,149 |
) |
Unrealized currency losses |
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(951 |
) |
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(3,823 |
) |
Certain litigation expenses, net(a) |
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(4,867 |
) |
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(3,473 |
) |
Proceeds from insurance claim(b) |
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25,900 |
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— |
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Restructuring activities |
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Productivity and transformation costs |
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(22,039 |
) |
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(21,530 |
) |
Plant closure related costs, net |
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(2,206 |
) |
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(1,215 |
) |
Warehouse/manufacturing consolidation and other costs, net |
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— |
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(384 |
) |
CEO succession |
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— |
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(4,774 |
) |
Acquisitions, divestitures and other |
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(Loss) gain on sale of assets |
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(48,710 |
) |
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3,194 |
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Transaction and integration costs, net(c) |
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(14,125 |
) |
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|
488 |
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Impairment charges |
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Goodwill impairment |
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(193,219 |
) |
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(428,882 |
) |
Long-lived asset and intangibles impairment |
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(27,394 |
) |
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(66,940 |
) |
Net loss |
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$ |
(304,923 |
) |
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$ |
(530,841 |
) |
(a) Expenses and items relating to securities class action, baby food litigation and SEC investigation.
(b) Represents receipt of proceeds under the Company’s R&W insurance related to one of its prior acquisitions, which was collected on January 2, 2026. (c) Expenses and items relating to strategic review.
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| Schedule of Net Sales by Geographic Region |
The Company’s net sales by geographic region, which are generally based on the location of the Company’s subsidiary, are as follows:
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Fiscal Year Ended June 30, |
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2026 |
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2025 |
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United States |
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$ |
611,402 |
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$ |
777,605 |
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United Kingdom |
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|
479,964 |
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492,046 |
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Western Europe |
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188,412 |
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|
179,108 |
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Canada |
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|
73,651 |
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111,021 |
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$ |
1,353,429 |
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$ |
1,559,780 |
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| Schedule of Long-lived Assets by Geographic Region |
The Company’s long-lived assets, which primarily represent property, plant and equipment, net and operating lease right-of-use assets, net by geographic region are as follows:
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Fiscal Year Ended June 30, |
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2026 |
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2025 |
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United States |
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$ |
56,956 |
|
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$ |
129,558 |
|
United Kingdom |
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|
113,285 |
|
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|
129,799 |
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Western Europe |
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|
60,096 |
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|
65,491 |
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Canada |
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|
3,385 |
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|
11,053 |
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$ |
233,722 |
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$ |
335,901 |
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