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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Estimated Useful Life of Property and Equipment
The estimated useful life of property and equipment are as follows:
Machinery and equipment
5 years to 15 years
Leasehold improvements Lesser of useful life or lease term
Vehicles
5 years
Furniture and fixtures
7 years
Building and building improvements
10 years to 40 years
Property held under capital leases
3 years to 5 years
Computer hardware and software
       3 years
Schedule of Net Sales Disaggregated by Customer Type For the years ended December 31, 2023 and 2022, net sales disaggregated by customer type consist of the amounts shown below.
Year Ended December 31,
20232022
(in thousands)
National and regional chains$89,655 $95,786 
Distributors228,316 242,285 
Online61,265 53,697 
Retail26,415 31,189 
$405,651 $422,957 
Schedule of Concentration of Credit Risk
For the years ended December 31, 2023 and 2022, purchases from the following vendor makes up greater than 10 percent of total purchases:
Year Ended December 31,
20232022
Keary Global Ltd. (“Keary Global”) and its affiliate, Keary International, Ltd. – related parties 13 %11 %
Amounts due to the following vendors at December 31, 2023 and 2022, respectively, that exceed 10 percent of total accounts payable are as follows:
December 31, 2023December 31, 2022
Keary Global and its affiliate, Keary International – related parties 22 %21 %
Fuling Technology Co., Ltd.16 %18 %
Wen Ho Industrial Co., Ltd14 %*
* Amounts payable represented less than 10% of total accounts payable.
Schedule of Fair Value Measurements by level for the Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes the Company’s fair value measurements by level at December 31, 2023 for the assets measured at fair value on a recurring basis:
Level 1 Level 2 Level 3
(in thousands)
Cash equivalents $5,956 $10,000 $— 
Short-term investments
— 26,343 — 
Fair value, December 31, 2023
$5,956 $36,343 $— 
The following table summarizes the Company’s fair value measurements by level at December 31, 2022 for the assets measured at fair value on a recurring basis:
Level 1 Level 2 Level 3
(in thousands)
Cash equivalents $10,609 $— $— 
Fair value, December 31, 2022
$10,609 $— $— 
Schedule of Carrying Values and Estimated Fair Values of Debt The following is a summary of the carrying amount and estimated fair value of the $23,000,000 and $28,700,000 term loans that mature in September 2026 and July 2027, respectively (the "2026 Term Loan" and "2027 Term Loan," respectively):
December 31, 2023
Carrying AmountEstimated Fair Value
(in thousands)
2026 Term Loan
$21,490 $19,999 
2027 Term Loan
28,028 27,810 
$49,518 $47,809 
December 31, 2022
Carrying AmountEstimated Fair Value
(in thousands)
2026 Term Loan
$22,168 $20,115 
2027 Term Loan
20,563 18,918 
$42,731 $39,033