Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent Events

On October 3, 2022, the Company acquired Endemix Doğal Maddeler A.Ş. and Teknoloji Yatırımları ve Danışmanlık Sanayi ve Ticaret A.Ş. (collectively, Endemix), a natural colors business located in Turkey. The Company paid $23.7 million in cash for this acquisition, which is net of $1.3 million in debt assumed, with $2.0 million of such amount being held back by the Company for 12 months in connection with the post-closing working capital adjustment and to satisfy any indemnification claims that may arise. This business will be part of the Colors segment.

On October 20, 2022, the Company announced its quarterly dividend of $0.41 per share would be payable on December 1, 2022.