Karat Packaging Announces New Distribution Center in Arizona
15 Febbraio 2024 - 2:00PM
Karat Packaging Inc. (NASDAQ: KRT) (“Karat” or the “Company”), a
specialty distributor and manufacturer of disposable foodservice
products and related items, today announced it has signed a lease
agreement for a 44,000 square-foot distribution center in Mesa,
Arizona.
This new facility is Karat’s first distribution center in the
Southwestern region outside of California, and it is anticipated to
be fully operational in the second quarter of 2024.
Karat also announced an expansion of its national salesforce,
with the addition of five sales representatives to further
penetrate key U.S markets in the South, Midwest and Pacific
Northwest regions.
“Our new distribution center will enable us to more efficiently
serve customers in Arizona and New Mexico and enhance distribution
productivity, as we continue to penetrate into this region,” said
Alan Yu, Karat’s Chief Executive Officer. “We are adding local
delivery and will-call pick-up options at this location, which, in
turn, will reduce freight costs and lead time for our customers in
the region.
“The new Arizona warehouse, along with our expanded sales team,
also will allow us to further expand Karat’s marketing to national
and regional chain accounts,” 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 Sfetcu/Roger
Pondel 310-279-5980 karat@pondel.com
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