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      <image:title>Insights - Case Study: Portfolio-Level EPR Exposure for a PE Sponsor - Using unit counts and revenue data provided by the sponsor, combined with publicly available fee schedules and industry benchmarks for QSR packaging costs, we built a per-store EPR fee model and scaled it across the full portfolio.</image:title>
      <image:caption>Total exposure was estimated at $18M–$27M in the near term, with a long-term range of $26M–$58M if all seven enacted states come online and vendors pass through full fees. The sponsor had a brand-by-brand breakdown, a methodology it could defend to deal teams, and a clear view of which concepts carried disproportionate exposure, all before a single brand supply report was filed.</image:caption>
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      <image:title>Insights - Case Study: One Brand, Four Weeks, Seven Invoices - We completed the 2024 and 2025 supply reports for California, Oregon, and Colorado within four weeks, well ahead of the May 31 deadline. Additionally, we forecasted California’s 2027 fees at the covered material level to provide the finance team with defensible estimates tied to each SKU.</image:title>
      <image:caption>Total exposure was quantified by state line item by year, with reserves set at the high end given California forecast uncertainty. Finance left the engagement with a seven-invoice payment calendar, state-level reserve estimates, and a SKU-level fee model before the first invoice arrived.</image:caption>
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      <image:title>Insights - Case Study: EPR Execution for a National Grocery Chain - Physical teardowns on high-volume items and archetype mapping across the balance produced 8,070 classified SKU-components, each aligned to state reporting and fee schedules. Total fees landed at 1.8% of net sales in those states. The spread across categories was 17x, with foam tableware and bottled water carrying fees as high as 27–57% of their retail price. Finance ended with firm reserve estimates, a category-level breakdown, and a filing-ready report before the first invoice arrived.</image:title>
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