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Dear Client: In just his official second day in the role, new Constellation CEO Nicholas Fink hosted a sell-side analyst meeting in NYC yesterday, alongside CFO Garth Hankinson, per reports from Roth’s Bill Kirk and TD Cowen’s Robert Moskow, who were among the first analysts to churn out notes. (They both also have a “buy”; In fact, Cowen just upgraded Monday.) Roth summed the meeting’s contents as “focused on expected management style, the hiring process, capital allocation/M&A philosophy, thoughts on
Eat or Get Swallowed: Reyes Nears 11-State RNDC Deal
Dear Client: BBD has learned that Reyes is quickly working toward an agreement to buy RNDC operations across several states, as we first reported in January [see BBD 01-13-2026]. But the list of markets has evolved since the beginning of the year, going from seven to 11 – and including four net new states for Reyes: Colorado, Arizona, Oklahoma and Louisiana. That would bring the wholesaler to 15 states (and Washington DC) of total coverage. Pending government approvals, such a
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