SMALLER, BUT GETTING BIGGER

While many of the industry's major players made multiregional acquisitions over the past 12 months, smaller regional companies and wholesalers were also involved in consolidation, albeit on a smaller scale.But the pressures are the same."You've got to get bigger, or you'll be bought out," Gary Giblen, New York-based managing director of Banc of America Montgomery Securities, San Francisco, told SN.

While many of the industry's major players made multiregional acquisitions over the past 12 months, smaller regional companies and wholesalers were also involved in consolidation, albeit on a smaller scale.

But the pressures are the same.

"You've got to get bigger, or you'll be bought out," Gary Giblen, New York-based managing director of Banc of America Montgomery Securities, San Francisco, told SN. "It's no longer viable to stand still.

"Like a shark, any company

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