Karat Packaging Announces Auditor Change
Karat Packaging Inc. (NASDAQ: KRT) has announced the approval of PricewaterhouseCoopers (PwC) as its new independent auditor for the year ending December 31, 2023.
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Rhea-AI Summary
Karat Packaging Inc. (NASDAQ: KRT) has announced the approval of PricewaterhouseCoopers (PwC) as its new independent auditor for the year ending December 31, 2023. This decision was made by the Audit Committee of the Board of Directors and is not associated with any disagreements with the previous auditor, BDO USA LLP. Karat Packaging specializes in the distribution and manufacturing of disposable foodservice products for restaurants and other foodservice settings across the U.S. The company is also known for its eco-friendly product line, Karat Earth®, which focuses on sustainability.
Positive
- Engagement of PwC as independent auditor may enhance investor confidence.
- Transition to PwC is not due to any disagreements, indicating stability in financial reporting.
Negative
- None.
Details
News Market Reaction – KRT
The recorded move for KRT in the trading session of this news was -3.55%.
Data tracked by StockTitan Argus. Session date unavailable.
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-- Audit Committee Approves PricewaterhouseCoopers
as New Independent Auditor --
CHINO, Calif., March 21, 2023 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (NASDAQ: KRT) (“Karat”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced its Audit Committee of the Board of Directors has approved the engagement of PricewaterhouseCoopers (“PwC”) as the Company’s independent registered public accounting firm for the year ending December 31, 2023.
PwC will succeed BDO USA LLP (“BDO”). The review process to change the auditor was not related to any disagreement between Karat and BDO.
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.
Investor Relations and Media Contacts:
PondelWilkinson Inc.
Judy Lin Sfetcu/Roger Pondel
310-279-5980
ir@karatpackaging.com
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