Working Capital

“Things that get into working capital, for example, on the balance sheet that can easily make a difference of sometimes millions of dollars and what the effective purchase price for that company really is.”

“You see a whole lot of businesses go under because of that exact dynamic. Like you're, you know, you're paying your producers so far in advance of when your retailers are paying you. It's like, you know, a terrible dynamic to have to deal with when you, especi…”

“There is negative working capital associated with the business, and when you think about how the mature industries at the time were consolidating, it still is a winner-take-most type of a market.”