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We look to invest in companies with an attractive
core business model and potential for new growth. During our diligence
process, we look for short and medium term opportunities to improve
the core business through improving marketing and distribution economics
and operational efficiencies. We also look for longer term opportunities
for growth, which may include expanding into new distribution channels
and geographic segments, pursuing new licensing opportunities, and
deploying new business models.
We refer to this investment strategy as Two Ways
to Win. The First Way to Win comes from improvements in the core
business driving attractive base returns. The Second Way to Win
comes from new growth initiatives providing upside opportunities
that enhance performance.
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