Karat Packaging, Inc. (NASDAQ: KRAT) was founded in 2000 and is headquartered in Chino, California, USA, with 542 full-time employees. It is a fast-growing manufacturer and distributor of packaging materials used in food-grade dining establishments , providing one-time use of environmentally friendly products , such as environmentally friendly lunch boxes and so on.
Karat Packaging (KRAT):
Karat Packaging is a fast-growing manufacturer and distributor that mainly produces single-use environmentally friendly products for restaurants and catering services. The company provides a wide range of products for national hotel chains and smaller regional chains. Karat’s products include food packaging, containers, tableware, cups, lids, tableware and straws. Karat Packaging also provides more environmentally friendly options for customers who are concerned about sustainable development.
The Karat® brand was founded in 2004, and the company has become an industry leader in its field of expertise. The Karat brand is recognized as an innovative product in the food service industry, providing powerful and affordable disposable products (including customization and printing) that can stay current and meet customer needs. With Karat, customers can get timely and seamless delivery from reliable sources to choose a variety of consumables, from disposable products to cleaning products and general products.
Karat Packaging provides a wide range of products for the food service industry, including food packaging, containers, cutlery, cups, lids, cutlery and straws. The company’s products are in the form of plastic, paper, biopolymer based and other degradable materials. The company’s Karat Earth® series products provide customers with more environmentally friendly choices, and they are increasingly concerned about sustainability issues. In addition to manufacturing and distribution, Karat Packaging also provides customers with customized solutions, including new product development, design, printing and logistics services. Karat Packaging’s goal is to become a single source provider that meets all customer needs for food packaging and disposable products.
Karat Packaging (KRAT) History:
- In 2000, Lollicup® USA, Inc. opened its first Lollicup Coffee & Tea store in San Gabriel, California, USA.
- In 2003, Tea Zone® was founded.
- In 2004, Lollicup® Coffee & Tea reached 100 stores nationwide.
- In 2004, Lollicup USA, Inc. launched its first e-commerce website Karat®, which offers a variety of disposable and packaged products at competitive prices.
- In 2005, the company headquarters moved to California Industry.
- In 2006, Karat Food Service Disposable Products and Packaging was officially registered as a brand.
- In 2008, Karat launched Karat® Earth, including a series of eco-friendly, bio-based and degradable products.
- In 2010, wholesale distribution spread to international markets, including Europe, the Middle East, Japan, South Africa, etc.
- In 2013, the company headquarters moved back to Chino, California.
- In 2015, Lollicup USA’s sales exceeded the $100 million mark, and the company’s website LollicupStore.com and CupDepot.com merged to establish a new website.
- In 2016, Lollicup USA launched Total Clean™.
- In 2018, a new warehouse was opened in New Jersey to better serve the East Coast. A new manufacturing facility opened in Rockwall, Texas in late 2018.
- In 2019, a new 190,000 square foot warehouse is planned in Blanchburg, New Jersey.
Karat Packaging (KRAT) investment:
Karat Packaging, Inc. (NASDAQ: KRAT) plans to go public on the 10/16/2019 IPO on the New York Stock Exchange, with an issue price of $7.00-$9.00, issuing 5 million shares, raising US$40 million, and underwriting by National Securities.