Dear Client: It's certainly a very dynamic time in the industry, particularly in the distributor tier, from RNDC's exit from California and its deal with Reyes in 11 markets to Southern Glazer's acquiring beer houses. That's all on top of wider industry headwinds and softer trends. Your editor recently chatted with SGWS chief Wayne Chaplin to discuss how the company is performing in and responding to the current environment. As we all know, 2025 was a tough year for the
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