Karat Packaging Expands National Salesforce, Focusing on Greater Penetration in East Coast and Mid-West Regions
19 Settembre 2023 - 2:00PM
Karat Packaging Inc. (“Karat” or the “Company”) (Nasdaq: KRT), a
specialty distributor and manufacturer of disposable foodservice
products and related items, today announced it has completed a
strategic initiative to expand its national salesforce, with the
addition of five experienced sales representatives focusing on the
East coast and Mid-west regions.
“The new team will enhance Karat’s presence in key regions,”
said Alan Yu, Karat’s Chief Executive Officer. “Combined with our
new warehouses in Chicago and Houston and our pending plans for
additional distribution centers in strategic locations, Karat will
be in an excellent position to enhance market share and serve an
increasing number of regional and national chain accounts.
“Our expanded sales team, along with the recent promotion of
Daniel Quire to the newly created position of Chief Revenue
Officer, demonstrate our commitment to fulfilling our long-term
growth initiatives and reaffirm that our strategic plan is working.
Lollicup USA Inc., our operating entity, is debt-free, and we
continue to generate strong cash flow and maintain a solid balance
sheet,” Yu added.
About Karat Packaging Inc. Karat Packaging Inc.
is a specialty distributor and manufacturer of a wide range of
disposable foodservice products and related items, primarily used
by national and regional restaurants and in foodservice settings
throughout the United States. Its products include food and
take-out containers, bags, tableware, cups, lids, cutlery, straws,
specialty beverage ingredients, equipment, gloves and other
products. The company’s eco-friendly Karat Earth® line offers
quality, sustainably focused products that are made from renewable
resources. Karat Packaging also offers customized solutions,
including new product development and design, printing, and
logistics services. To learn more about Karat Packaging, please
visit the company’s website at www.karatpackaging.com.
Caution Concerning Forward-Looking Statement
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements, including, but not limited to,
enhancing market share and serving an increasing number of regional
and national chain accounts, are subject to numerous conditions,
many of which are beyond the control of the company, including
those set forth in the Risk Factors section of the company’s most
recent Annual Report on Form 10-K for the year ended December 31,
2022 and our other public filings made with the Securities and
Exchange Commission (SEC). Copies are available on the SEC’s
website at www.sec.gov. Karat undertakes no obligation to update
these statements for revisions or changes after the date of this
release, except as required by law.
Investor Relations and Media
Contacts:PondelWilkinson Inc.Judy Lin or Roger
Pondel310-279-5980; ir@karatpackaging.com
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