To: Ms.
Anna
From: Mr. William George
Subject: Potential M&A Targets for WorldWide Brewing Co.
Greetings
Kindly find the chart below that gives you an overview of potential M&A targets that can be made in Asia for
esteemed client: WorldWide Brewing Co.
Company Description
HappyHour HappyHour Co. is the largest
Co. player in Singapore and
Malaysia, in the segments of
beer, spirits and non-
alcoholic beverages. Its
operations include
manufacturing facilities,
distribution and direct sales
and it has demonstrated
strong growth in EBITDA in
FY2020 which was up 20%
pcp and amounted to
US$300mm.
Spirit Bay It takes #1 and #2 spots
respectively in Indonesia and
Singapore.
Segment: Beer, Spirits,
Non-alcoholic beverages
Operations:
Manufacturing facilities
(Indonesia), Distribution,
and Direct Sales
HQ: Malaysia |
Hipsters’ Other locations:
Ale Singapore, Indonesia,
Japan, Korea, Cambodia.
• Segments: Beer, Spirits
• Operations:
Manufacturing facilities,
Distribution, and Direct
Sales
HQ: Malaysia
Brew Co. Segments: Beer, Spirits
Relevance to WorldWide Recommendation
Brewing
It has similar operations to Recommend
WorldWide Brewing across the
same segments and is the One of the major stake
leading player in Singapore and holders is looking for a
Malaysia, suggesting the strategic partner as well !
potential for strategic benefits
and synergies. It has solid
financial results and an
ownership structure that is
owned by 3 families, rendering a
potential acquisition relatively
simple and feasible. HappyHour
Co. would be appropriate to
share.
• Impressive growth - EBITDA Recommend
US$400mm (FY June 2020
actuals) up 40% pcp. From what I can tell, there is
a lot of scope for cost
cutting and increased profit
• Shareholders: 60% owned
margins in this company
by Global Sponsor, 40%
employee owned. Potential
for more growth.
The stakeholders of this Recommended Only If
company consist of 30
independent breweries. The sellers seeks to sell more
than 60% of their stake.
Often this leads to
miscommunications, bottlenecks With proper management,
in decision making this company can make 40%
YOY should the above
The company has an EBITDA of condition is met.
200mm (YOY 15%)
Shareholders: listed on the Not Recommended
Malaysian stock exchange
(mostly institutional
shareholders)
• EBITDA US$800mm (FY
June 2020 actuals) down 5%
pcp
 HQ: Singapore | Other
Bevy’s locations: Malaysia, China,
Direct Indonesia, Japan, Korea,
Cambodia, Australia, New
Zealand
Segments: Beer, Spirits,
Non-alcoholic beverages
Operations: Wholesale
Distribution only
Shareholders: Owned by one Recommended
family
Merging will be better.
EBITDA US$250mm (FY June Better vertical integration is
2020 actuals) up 20% pcp good for the supply chains
With better management
strategies, we can realize
better profits.

I hope this information is useful.

Warm regards
William George