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Task 1 - Notes From Call v2

This document provides an overview of 5 companies that could be acquisition targets for Worldwide Brewing as it looks to expand in Asia. HappyHour Co. and Spirit Bay are the #1 and #2 players in Singapore and Malaysia with EBITDAs of $300 million and $400 million respectively. Hipsters' Ale operates microbreweries across Southeast Asia and has an EBITDA of $200 million. Brew Co. is the top alcohol manufacturer in Malaysia with an EBITDA of $800 million. Bevy's Direct is a wholesale distributor with operations throughout Asia and an EBITDA of $250 million.

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Siddhant Aggarwal
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257 views

Task 1 - Notes From Call v2

This document provides an overview of 5 companies that could be acquisition targets for Worldwide Brewing as it looks to expand in Asia. HappyHour Co. and Spirit Bay are the #1 and #2 players in Singapore and Malaysia with EBITDAs of $300 million and $400 million respectively. Hipsters' Ale operates microbreweries across Southeast Asia and has an EBITDA of $200 million. Brew Co. is the top alcohol manufacturer in Malaysia with an EBITDA of $800 million. Bevy's Direct is a wholesale distributor with operations throughout Asia and an EBITDA of $250 million.

Uploaded by

Siddhant Aggarwal
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Task one – overview of companies

Client – Worldwide Brewing

• Largest US manufacturer and supplier of beer, spirits and non-alcoholic beverages in the US
• Current operations generate US$1bn of EBITDA annually
• Limited domestic growth opportunities, looking to expand overseas
• CEO has identified Asia as a key opportunity as a rising middleclass is rapidly increasing the
demand for more premium beverages

Company 1 – HappyHour Co.

• HQ: Singapore | Other locations: Malaysia, China


• Segments: Beer, Spirits, Non-alcoholic beverages
o #1 player in Singapore and Malaysia
• Operations: Manufacturing facilities (Singapore, Malaysia (outsourced), China, new facilities
planned for Cambodia), Distribution, and Direct Sales
• Shareholders: Owned solely by three families (one has passed away forcing a sale process)
• EBITDA US$300mm (FY June 2020 actuals) up 20% pcp

Company 2 – Spirit Bay

• HQ: Indonesia | Other locations: Singapore, Malaysia, China


• Segments: Beer, Spirits, Non-alcoholic beverages
o #2 player in Singapore and Malaysia, #1 in Indonesia
• Operations: Manufacturing facilities (Indonesia), Distribution, and Direct Sales
• Shareholders: 60% owned by Global Sponsor, 40% employee owned
• EBITDA US$400mm (FY June 2020 actuals) up 40% pcp

Company 3 – Hipsters’ Ale

• HQ: Malaysia | Other locations: Singapore, Indonesia, Japan, Korea, Cambodia


• Segments: Beer, Spirits
• Operations: Manufacturing facilities (consortium of independent microbreweries in each
region), Distribution, and Direct Sales
• Shareholders: 30 independent breweries
• EBITDA US$200mm (FY June 2020 actuals) up 15% pcp

Company 4 – Brew Co.

• HQ: Malaysia
• Segments: Beer, Spirits
• Operations: Manufacturing facilities only
o #1 alcohol manufacturer in Malaysia
• Shareholders: listed on the Malaysian stock exchange (mostly institutional shareholders)
• EBITDA US$800mm (FY June 2020 actuals) down 5% pcp
Company 5 – Bevy’s Direct

• HQ: Singapore | Other locations: Malaysia, China, Indonesia, Japan, Korea, Cambodia, Australia,
New Zealand
• Segments: Beer, Spirits, Non-alcoholic beverages
• Operations: Wholesale Distribution only
• Shareholders: Owned by one family
• EBITDA US$250mm (FY June 2020 actuals) up 20% pcp

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