To: [insert name] Anna, US Managing Director
From: [insert name] Me. Member on Anna’s team
Subject: [insert subject] Possible Recommendations for WorldWide Brewing Co.
[Insert greeting]
[You may find it useful to format your email using the following table – we have given an example for one of the
companies below]
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 is the second
Spirit Bay largest 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
which was up 40% pcp and
amounted to US$400mm.
Hipster’s Ale is a consortium
Hipster’s of independent
Ale microbreweries over the
majority of Asia (Malaysia,
Singapore, Indonesia, Japan,
Korea, Cambodia), in the
segment of beer and spirits.
Its operation includes
manufacturing facilities,
distribution, and direct sales.
It has a EBITDA of
US$200mm, which is up 15%
pcp.
Brew Co. is the largest
Brew Co. alcohol manufacturer in
Malaysia, in the segments of
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.
Again, it has similar operations Recommend
to WorldWide Brewing across
the same segments with a
strong hold in Indonesia and a
leading player in Singapore and
Malaysis, suggesting the
potential for strategic benefits
and synergies. The financials are
strong and are 60% owned by a
singular global sponsor, so an
acquisition may be relatively
simple. Spirit Bay, likewise, is
appropriate to share.
While it has similar operations No
to WorldWide Brewing across
the same segments, the glaring
issue is the independency of the
ownership group. The amount of
resources needed to buy all 30
microbreweries may outweigh
the benefits of acquisition.
Hipster’s Ale would be
inappropriate to share.
As a manufacturer, it is similar Recommend on
to WorldWide Brewing, so there condition of acquiring
is potential synergy in that distributor.
 beer and spirits. It only
operates in manufacturing
facilities. It has an EBITDA of
US$800mm, which is down
5% pcp.
Bevy’s Direct is a wholesale
Bevy’s distributor all over Asia. Its
Direct segments entail beer, spirits,
and non alcoholic beverages,.
Its EBITDA is US$250mm,
which is up 20% pcp.
[Insert sign-off and your name]
regard. The financials are good,
but more research would be
needed to see if the downtrend
in EBITDA is something that will
continue.
It is publicly traded, so meeting
with their board will be
necessary.
In my opinion, we should couple
this with our next company to
horizontally integrate.
Bevy’s Direct may be a good Recommend
avenue to go whether by
coupling with a manufacturing
facility or exporting your own
product to Asia. The financials
are good and it has one owner,
so acquisition may be relatively
simple.