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Karat® by Lollicup™ Acquires 6th US Distribution Center in Hawaii

·2 min read

US-Based Foodservice Supplier Expands Customer Reach to Six States

KAPOLEI, Hawaii, Jan. 18, 2021 /PRNewswire/ -- Karat® by LollicupTM has entered a definitive merger agreement to acquire Pacific Cup, Inc., including its manufacturing and distributing facility in Hawaii. Sale completion is expected to close Q1 2021, after which the company will operate under the Karat Packaging name.

Lollicup USA, Inc. logo (PRNewsFoto/Lollicup USA, Inc.)
Lollicup USA, Inc. logo (PRNewsFoto/Lollicup USA, Inc.)

Karat® by LollicupTM has five distribution facilities across the United States, making the addition of Hawaii's facility the company's sixth distribution center and third manufacturing plant. Currently, Karat® by LollicupTM has distribution centers in Washington, California, Texas, South Carolina and New Jersey with production lines setup in the California and Texas facilities for both paper and plastic products. This strategic placement of warehouses allows the company to connect with more customers and deliver even better service. The facility in Hawaii will lend more resources towards servicing the businesses located on the islands that Karat® by LollicupTM was previously unable to reach.

About Pacific Cup, Inc. – Pacific Cup, Inc. has been manufacturing paper cups and containers for 35 years to service QSR restaurant chains with its disposable product needs. They have one 20,000/ft2 facility located in Kapolei, Hawaii.

About Karat® by LollicupTM -- Karat Packaging, DBA Karat® by LollicupTM, is a rapidly-growing manufacturer and distributor of single-use disposable products. This includes cups and lids, cutlery kits, hinged containers, microwaveable containers, portion cups, take out bags, personal protective gear and more. Karat® by LollicupTM can custom print most of its catalog with business logos and designs. The company supplies products primarily to foodservice companies from national chains to smaller family-owned restaurants. They also cater to sustainably conscious customers with a line of environmentally friendly tableware, Karat Earth. For more information, please visit www.Karatpackaging.com or email marketing@karatpackaging.com.

Contact: Sabrina Huda Sanchez
Email: Marketing@karatpackaging.com

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/karat-by-lollicup-acquires-6th-us-distribution-center-in-hawaii-301209555.html

SOURCE Karat by Lollicup

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  • Short Seller Andrew Left Goes Sour On Lemonade, Says Company Lies To Shareholders

    Andrew LeftCitron Research's Andrew Left criticized insurance company Lemonade Inc (NYSE: LMND) on Friday, saying its stock multiple is based on empty marketing tactics.The Lemonade Bear Case: In a Twitter live video, Left dismissed Lemonade Inc's claims of bringing new technology to the insurance industry, saying the company's technology is no different from insurers like Progressive Corp. (NYSE: PGR) or State Farm."They've been lying to their customers and their shareholders," said the noted short seller.The company has not responded to a request for comment.Not An ESG Company: He also blasted Lemonade's claims of being a "social good" company as an easy marketing ploy.Left said Lemonade is taking advantage of younger investors' interest in supporting companies that have a positive social impact, like Tesla Inc (NASDAQ: TSLA)."It's playing on the millennial investors," he said, adding that the company has a higher multiple than Zoom Video Communications (NASDAQ: ZM), Uber Technologies Inc (NYSE: UBER) or Tesla Inc (NASDAQ: TSLA).Lemonade insiders have sold $400 million in the past six months but gave just $1 million to charity last year, he said.Left said the Securities and Exchange Commission and the Federal Trade Commission should look more closely at companies that make claims of being socially responsible.Price Action: Shares of Lemonade ended Friday's trading down 6.79% at $147.74 on Friday. Left's video posted to Twitter at 11:30 a.m.Related Link: XL Fleet Spikes On CEO's CNBC Plug, Citron's Long CallSee more from Benzinga * Click here for options trades from Benzinga * Hillman Group In Talks With Tilman Fertitta SPAC: Bloomberg * 6 Sports SPACs To Consider For Your Investing Playbook(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Your next stimulus check — for $1,400 — will move closer this week

    Congressional leaders plan to get "right to work" on it. How soon could you get the cash?

  • Cramer Shares His Thoughts On American Airlines, American Tower And More

    On CNBC's latest "Mad Money Lightning Round," Jim Cramer said American Airlines Group Inc (NASDAQ: AAL) has moved up too much. He would buy Boeing Co (NYSE: BA) instead.Cramer prefers Crown Castle International Corp (NYSE: CCI) over American Tower Corp (NYSE: AMT).The day for Opko Health Inc. (NASDAQ: OPK) is not arriving, at least not anytime soon, thinks Cramer.General Motors Company (NYSE: GM) could be worth far more, said Cramer, adding that it is "real good" -- though it will never be the next Tesla Inc (NASDAQ: TSLA).If you want a speculative stock, Surface Oncology Inc (NASDAQ: SURF) is a very good place to be.S&P Global Inc (NYSE: SPGI) is a remarkable company, said Cramer. He would buy more. See more from Benzinga * Click here for options trades from Benzinga * 'Fast Money' Picks For January 19 * Mike Khouw Sees Unusual Call Options Activity In Virgin Galactic(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Trump Halts Huawei Supply in Final China Blow, Reuters Says

    (Bloomberg) -- The U.S. government notified several of Huawei Technologies Co.’s suppliers that it’s revoking their licenses to work with the Chinese company and rejecting other applications in the last days of Donald Trump’s presidency, Reuters reported, citing unidentified people familiar with the matter.Current licensed suppliers that have been notified include Intel Corp., Reuters said. In addition, the Commerce Department indicated its intent to deny “a significant number of license requests for exports to Huawei,” according to an email obtained by the news agency. Representatives for Intel and the U.S. Commerce Department didn’t immediately respond to requests by Bloomberg News seeking comment.The latest move against Huawei is probably the Trump administration’s last strike to weaken the Chinese telecommunications giant and puts the spotlight on how the incoming Biden administration will approach the U.S.-China relationship. Asian chip stocks and Huawei suppliers including Samsung Electronics Co., Tokyo Electron Ltd., Advantest Corp. and Lasertec Corp. slid between 1% and 4% in early Monday trading.Intel was among a small group of companies that the U.S. government cleared to do business with Huawei, which it put on its so-called entity list of national security threats in May 2019. Trump administration sanctions have cut Huawei off from business-critical relationships with the likes of Alphabet Inc.’s Google, which provided the Android software on hundreds of millions of Huawei smartphones, and Taiwan Semiconductor Manufacturing Co. for its cutting-edge chips.Huawei has relied on Intel much less, primarily for its servers and consumer laptop products. A representative for the Chinese company didn’t immediately respond to a request for comment.Read more: Trump’s China Inc. Onslaught Leaves Key Decisions for BidenTrump has escalated his campaign to curb China’s technological rise as his term draws to a close. Xiaomi Corp., another smartphone and consumer electronics vendor, was among nine firms added to the U.S. Defense Department’s list of companies with alleged ties to the Chinese military, a move that will restrict U.S. investments in its securities. Other companies include state-owned planemaker Commercial Aircraft Corp. of China Ltd., or Comac, which is central to China’s goal of creating a narrow-body plane that can compete with Boeing Co. and Airbus SE.The profile of the companies targeted, including in the latest announcements on Thursday, is staggering. They include China’s three biggest telecom firms, its top chipmaker, its biggest social media and gaming players, its top two smartphone makers, its main deepwater energy explorer, its premier military aerospace contractor, its leading drone manufacturer and its primary commercial planemaker.While the scope of Trump’s unprecedented actions has roiled markets, the full reckoning of their impact largely hinges on President-elect Joe Biden. His incoming administration will have the power to either keep the restrictions in place, remove them or tighten them further.Read more: U.S. Blacklists Xiaomi in Widening Assault on China Tech(Updates with share action from the third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Benzinga's Weekly Bulls And Bears: AMD, Marathon, Tesla, Uber, Walgreens And More

    * Benzinga has examined the prospects for many investor favorite stocks over the past week. * The week's bullish calls included the electric vehicle leader and a recovering retailer. * A ride-sharing company and a semiconductor maker were among the bearish calls.As the fourth-quarter earnings reporting season got underway last week, the major U.S. indexes lost a little ground. The Dow Jones industrial average concluded the week down about 1%, and the S&P 500 and Nasdaq retreated a little more.Of course, much of the attention during the week was focused on the political drama in Washington, D.C. The U.S. president became the first ever to be impeached twice, after the prior week's chaos at the U.S. Capitol. Social media pulled the plug on the president and others who fomented the insurrection. The outgoing president also kept up the pressure on China, while the incoming president laid out a huge pandemic and economic recovery program.In corporate news, the U.S. Securities and Exchange Commission opened a probe into a petroleum giant, a semiconductor leader announced management changes, a casino owner and Republican megadonor passed away, and the Detroit Auto Show was canceled.Through it all, Benzinga continued to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.Bulls Tesla Inc (NASDAQ: TSLA) is not an auto company but rather a disruptive technology company. So says Shivdeep Dhaliwal's "Tesla Reaching T Valuation In 2 Years? Here's What Inspires Daniel Ives' Optimistic Target." Are U.S. political developments bullish for the Elon Musk-led company?Priya Nigam's "Marathon Oil Gets Upgrade Due To Higher Oil Prices, More Cash Return To Shareholders" is focused on how Marathon Oil Corporation (NYSE: MRO) is likely to generate around $2 billion over the next couple of years.In Jayson Derrick's "Baird Upgrades Walgreens Boots, Expects Turnaround Of 'Train Wreck' Performance," see the several catalysts that could help turn around specialty retailer Walgreens Boots Alliance Inc (NASDAQ: WBA)."Nvidia's Comprehensive Involvement In Gaming Market Continues Strong Demand: Rosenblatt" by Shanthi Rexaline examines how the competitive position of NVIDIA Corporation (NASDAQ: NVDA) in the gaming GPU market will only get better.In "Cantor Analyst Raises Aphria And Tilray Price Targets Amid Merger," Jelena Martinovic discusses why the impending merger with Tilray Inc. (NASDAQ: TLRY) has overshadowed the recent disappointing quarterly results from Aphria Inc. (NASDAQ: APHA).For additional bullish calls of the past week, also have a look at the following: * Study: Investors Say Tesla, Apple And Microsoft Were 2020's Top Stocks * Why KeyBanc Is Bullish On These 4 Casino StocksBears A Japanese tech investment giant has trimmed its stake in Uber Technologies Inc (NYSE: UBER), according to "SoftBank Dumps B Worth Of Uber Shares After Stock's Rally" by Aditya Raghunath. See how much of the stake in the ride-sharing company remains and whether it is still the largest investment in the firm's portfolio.Shanthi Rexaline's "Why Intel's CEO Transition Is A Negative For AMD: Analyst" argues that the "blue sky" scenario for Advanced Micro Devices, Inc. (NASDAQ: AMD) may start to crumble as its rival gets back on its feet. How much are AMD's share gains in servers likely to moderate?In Chris Katje's "Palantir Vulnerable With Valuation And Lockup Concerns, Citi Says," see whether shares of software company Palantir Technologies Inc (NYSE: PLTR) have run too far. Plus, a large share lockup expires around the same time as the upcoming earnings report."JPMorgan Says Hydrogen Stock Plug Power Trades At 'Steep Price,' Downgrades FuelCell Energy" by Jayson Derrick shows why the "compelling" path to $1.2 billion in sales by 2024 for Plug Power Inc (NASDAQ: PLUG) did not impress one top analyst.For more bearish takes, be sure to check out these posts: * Why Investment Strategist Ed Yardeni Is Worried About A Tech Stocks, Bitcoin-Led Market Meltdown * 'You're A Fool' Who Will 'Lose Everything' If You Take On Debt To Invest In Crypto, Mark Cuban Says * How Did Retail Perform During The Holidays?At the time of this writing, the author had no position in the mentioned equities.Photo Courtesy of PixabayKeep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Barron's Picks And Pans: Dividend Aristocrats, Alibaba, GameStop, Walmart And More * Notable Insider Buys Of The Past Week: Howard Hughes, Party City, Perrigo And More(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Is the stock market open on Martin Luther King Jr. Day? Here are the trading hours

    Most financial markets will be closed for the celebration of the civil rights leader's life, the first one since protests over the killing of George Floyd touched off massive protests across the nation.