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Karat Packaging Priced, Nasdaq: KRT

Produces single-use food packaging.

Industry: Materials

Latest Trade: $18.45 -0.04 (-0.2%)

First Day Return: +16.0%

Return from IPO: +15.6%

Industry: Materials

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 Neighborhood Grill + Bar, Chili’s Grill & Bar, 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.
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IPO News for Karat Packaging
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IPO Data
IPO File Date 02/18/2021
Offer Price $16.00
Price Range $18.00 - $20.00
Offer Shares (mm) 4.0
Deal Size ($mm) $63
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/14/2021
Offer Price $16.00
Price Range $18.00 - $20.00
Offer Shares (mm) 4.0
Deal Size ($mm) $63
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Chino, CA
Founded 2000
Employees 647
Website www.karatpackaging.com