Karat Packaging Inc.
We are a rapidly growing specialty distributor and select manufacturer of environmentally friendly disposable foodservice products and related items. We are a nimble supplier of a wide range of products for the foodservice industry, including food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. Our products are available in plastic, paper, biopolymer-based and other compostable forms. Our Karat Earth® line provides environmentally friendly options to our customers, who are increasingly focused on sustainability. We offer customized solutions to our customers, including new product development, design, printing and logistics services. While a substantial majority of our revenue is generated from the distribution of our vendors’ products, we do manufacture products ourselves. Our goal is to be the single-source provider to our customers for all of their disposable foodservice products and related needs.
Our blue-chip customer base includes well-known fast casual chains such as Applebee’s, Chili’s, Chipotle Mexican Grill, Corner Bakery Cafe and TGI Fridays, as well as fast-food chains, including The Coffee Bean & Tea Leaf, El Pollo Loco, In-N-Out Burger, Jack in The Box, Panda Express, Raising Cane’s Chicken Fingers and Torchy’s Tacos. with existing customers. For the years ended Dec. 31, 2020, and 2019, no single customer represented more than 10% of our revenue.
(Note: Karat Packaging priced its IPO on April 14, 2021, at $16 – well below its $18 to $20 range – on 3.95 million shares to raise $63.2 million – less than its estimated proceeds of $75.05 million.)
|Address||6185 Kimball Avenue Chino, CA 91708|
|Phone Number||(626) 965-8882|
|View Prospectus:||Karat Packaging Inc.|
|Revenues||$295.52 mil (last 12 months)|
|Net Income||$17.52 mil (last 12 months)|
|Price range||$16.00 - $16.00|
|Est. $ Volume||$63.2 mil|
|Manager / Joint Managers||Stifel/ William Blair/ Truist Securities/ National Securities Corp./ D.A. Davidson & Co. |
|Expected To Trade:||4/15/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|