To: Ms.
Anna
From: Mr. Jatin Singh
Subject: Potential Merger & Acquisition Targets
Greetings,
Please find the chart below that provides an overview of the potential M&A targets for 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. Spirit Bay are #1 and #2 spots
respectively in Indonesia and
Singapore and Malaysia.
Segments: Beer, Spirit, Non-
alcoholic Beverages.
Growth rate is pretty
attractive with EBITDA in
FY2020 was up by 40%pcp,
amounted to US$400mm.
Hipsters’ Company is owned by 30
Ale Individual breweries. It’s
Headquarter in Malaysia.
Segments: Beer, Spirit.
EBITDA in FY2020 up by
15%pcp to US$800mm.
Brew Co. Shareholders are mostly
institutional and listed on
Bursa Malaysia.
Segments: Beer, Spirit.
Headquarter in Malaysia. In
FY2020 overall down by
5%pcp to US$800mm.
Bevy’s Shareholder is family itself.
Direct Headquarter in Singapore,
also operates in Japan, China,
Australia, Korea.
Segments: Beer, Spirit, Non-
alcoholic Beverages. Great
Growth rate of 20%pcp in
FY2020 to US$250mm.
Relevance to WorldWide Recommendation
Brewing
It has similar operations to Recommend
WorldWide Brewing across the
same segments and is the
leading player in Singapore and
Malaysia, suggesting the
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.
It is working in the same Recommended
segments as WorldWide
Brewing and is leading player in
Indonesia and a close
competent of HappyHour Co. in
Malaysia and Singapore.
Growth rate is impressive.
Shareholders: 60% owned by
Global Sponsors and 40% owned
by employees.
It is owned by 30 individual Not Recommended
Breweries. This may lead to
miscommunication and
bottlenecking situations while
making important decisions.
Growth rate is pretty good.
It is listed on Malaysian stock Not Recommended
exchange and mostly are
institutional investors. Growth
rate is also down by 5%pcp to
US$800mm.
The company is owned by one Recommended
family itself. Working in the
same segments as WorldWide
Brewing, Growth rate is pretty
impressive.
I hope this information will be useful and help you in selecting the potential M&A targets.

Thank you,
Jatin Singh