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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Accounting Policies [Abstract] |
Schedule of estimated useful life of property and equipment | The estimated useful life of property and equipment are as follows:
Machinery and equipment | 5 years to 15 years
Leasehold improvements | Lesser of useful life or lease term
Vehicles | 5 years
Furniture and fixtures | 7 years
Building and building improvements | 10 years to 40 years
Property held under capital leases | 3 years to 5 years
Computer hardware and software | 3 years
Schedule of goodwill | The following table summarizes the activity in the Company's goodwill from December 31, 2020 to December 31, 2022:
| (in thousands)
Balance at December 31, 2020 | $ | 3,113 |
Goodwill acquired | 397
Balance at December 31, 2021 | $ | 3,510 |
Goodwill acquired | —
Balance at December 31, 2022 | $ | 3,510 |
Schedule of variable interest entity financial information | The following financial information includes assets and liabilities of Global Wells and are included in the accompanying consolidated balance sheets, except for those that eliminate upon consolidation:
| December 31, 2022 |  | December 31, 2021
| (in thousands)
Cash | $ | 2,022 |  |  | $ | 1,163 |
Accounts receivable | 53 |  |  | 384 |
Prepaid expenses and other current assets | 191 |  |  | 63 |
Due from Lollicup USA Inc. | 4,700 |  |  | — |
Property and equipment, net | 45,399 |  |  | 46,612 |
Other assets | 4,262 |  |  | 4,762 |
Total assets | 56,627 |  |  | 52,984 |
Accounts payable | $ | 2 |  |  | $ | 497 |
Accrued expenses | 626 |  |  | 68 |
Income tax payable | — |  |  | 9
Customer deposits | 165 |  | 88
Due to Lollicup USA Inc. | — |  |  | 2,620 |
Long-term debt, current portion | 957 |  |  | 1,178 |
Long-term debt, net of current portion | 41,558 |  |  | 35,339 |
Other liabilities | 1,302 |  |  | 2,636 |
Total liabilities | $ | 44,610 |  |  | $ | 42,435 |
Schedule of net sales disaggregated by customer type | For the years ended December 31, 2022 and 2021, net sales disaggregated by customer type consist of the amounts shown below.
| Year Ended December 31,
| 2022 |  | 2021
| (in thousands)
National and regional chains | $ | 95,786 |  |  | $ | 86,017 |
Distributors | 242,285 |  |  | 199,902 |
Online | 53,697 |  |  | 50,271 |
Retail | 31,189 |  |  | 28,054 |
| $ | 422,957 |  |  | $ | 364,244 |
Schedule of concentration of credit risk | For the years ended December 31, 2022 and 2021, purchases from the following vendor makes up greater than 10 percent of total purchases:
| Year Ended December 31,
| 2022 |  | 2021
Keary Global Ltd. (“Keary Global”) and its affiliate, Keary International, Ltd. – related parties | 11 | % |  | 12 | %
Amounts due to the following vendors at December 31, 2022 and 2021, respectively, that exceed 10 percent of total accounts payable are as follows:
| December 31, 2022 |  | December 31, 2021
Keary Global and its affiliate, Keary International – related parties | 21 | % |  | 10 | %
Fuling Technology Co., Ltd. | 18 | % |  | 21 | %
Wen Ho Industrial Co., Ltd | * |  | 11 | %
* Amounts payable represented less than 10% of total accounts payable.
Schedule of fair value measurements by level for the assets and liabilities measured at fair value on a recurring basis | The following table summarizes the Company’s fair value measurements by level at December 31, 2022 for the assets measured at fair value on a recurring basis:
| Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Cash equivalents | $ | 10,609 |  |  | $ | — |  |  | $ | — |
Fair value, December 31, 2022 | $ | 10,609 |  |  | $ | — |  |  | $ | — |
The following table summarize the Company’s fair value measurements by level at December 31, 2021 for the assets and liabilities measured at fair value on a recurring basis:
| Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Cash equivalents | $ | 2,000 |  |  | $ | — |  |  | $ | — |
Interest rate swap | — |  |  | (1,334) |  |  | — |
Fair value, December 31, 2021 | $ | 2,000 |  |  | $ | (1,334) |  |  | $ | — |
Schedule of carrying values and estimated fair values of debt | The following is a summary of the carrying amount and estimated fair value of the $23,000,000 and $28,700,000 term loans that mature in September 2026 and July 2027, respectively:
| December 31, 2022
| Carrying Amount |  | Estimated Fair Value
| (in thousands)
$23,000,000 term loan maturing in September 2026 | $ | 22,168 |  |  | $ | 20,115 |
$28,700,000 term loan maturing in July 2027 | 20,563 |  |  | 18,918 |
| $ | 42,731 |  |  | $ | 39,033 |

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