I figured this out. I added a function in functions.php and then called it inside the template
if ( class_exists('Tribe__Events__Main') ){
function tribe_get_color_categories ( $event_id = null ) {
if ( is_null( $event_id ) ) {
$event_id = get_the_ID();
}
$event_cats = '';
$term_list = wp_get_post_terms( $event_id, Tribe__Events__Main::TAXONOMY );
foreach( $term_list as $term_single ) {
$category_color_primary = get_field('event_category_color', $term_single);
}
if($category_colour_primary) {
echo 'style="color:';
echo $category_color_primary;
echo ' " ';
}
}
}