To: Ms Anna
From: Mr Krishnav Gupta
Subject: Recommendation for WorldWide Brewing M&A deal
To whom it may concern,
Below is a table stating recommendations for a merger or acquisition deal 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 Indonesian company,
operating in beers, spirits and
non-alcoholic beverages in
Singapore, Malaysia and
China. US$400mm in EBITDA,
up 40%.pcp.
Hipsters’ Malaysian beer and spirits
Ale company, which is a
manufacturer, distributor and
seller all three. Owned by 30
independent breweries.
US$200mm EBITDA in
FY2020, up 15% pcp
Brew & Co. Malaysian beer and spirits
company. They only
operate manufacturing
facilities, but are the #1
alcohol manufacturing
player in Malaysia. Listed
on the Bursa Malaysia.
US$800mm in EBITDA for
FY2020, which is 5% down
pcp
Bevy’s Singapore based company,
Direct operate in beer, spirits and
Relevance to WorldWide Recommendation
Brewing
Acquiring HappyHourCo. Is a Recommended
beneficial deal as the largest
shareholder is retiring and 60%
of the company is on the
market. It has growth potential,
rising EBITDA. Its involvement in
Manufacturing, Distribution and
Direct Sales make it my No. 2
recommendation.
Involved in manufacturing Recommended
facilities, distribution, and direct
sales. My No.1 recommendation
to merge with Spirit Bay as it
haven’t expanded to new
markets a merger will lead it to
expand and also at the same
time fulfilling in Worldwide
Brewing Co.’s objective. Its has
drastically growing EBITDA
which is a huge boon.
Operating in Singapore, Can Consider but better
Indonesia, Japan, Korea and options are available.
Cambodia. Hipsters’ Ale is a
company involved in similar
operations as of above stated
companies. It manufactures
spirit and beers. It has decently
growing EBITDA. Its ownership
situation makes it a complex and
time consuming task to merge
with.
It doesn’t operate in distribution Not recommended
and direct sales. It is publically
traded with makes the M&A
deal much complex and lead to
public disclosure. Hence,
merging with it also isn’t feasible
and it also have falling EBITDA.
It is only involved in wholesale Recommended
distribution and misses
 non-alcoholic beverages
across Malaysia, China,
Indonesia, Japan, Korea,
Cambodia, Australia and
New Zealand. They only do
wholesale distribution. The
owner is a wholefoods
retailer, and they recorded
US$250mm in FY2020
EBITDA, up 20% pcp
Regards
Krishnav Gupta
production and retail sales as
Worldwide Brewing. It has a
decent EBITDA growth of 20%. It
is operating in many countries
which is a great advantage.
Ownership scenario is also
positive as owner is a
wholefoods retailer making it
feasible and simple to merge.