In the last 12 months, Karat Packaging Inc. generated $295.5 million in revenue and $17.5 million in net income. Karat Packaging Inc. has a market cap of $363.3 million.
Stifel, William Blair, Truist Securities, National Securities Corp. and D.A. Davidson & Co. served as the underwriters for the IPO.
Karat Packaging Inc. provided the following description of their company for its IPO: “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. “.
Karat Packaging Inc. was founded in 2000 and has 613 employees. The company is located at 6185 Kimball Avenue Chino, CA 91708 and can be reached via phone at (626) 965-8882 or on the web at http://www.karatpackaging.com/.
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