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To: Anna
From: Darshil Subject: Potential M&A targets from worldwide brewing
[Hi,Anna]
[Below are my descriptions and recommendations for potential M&A targets for worldwide brewing.]
Company Description Relevance to WorldWide Recommendation
Brewing
HappyHour HappyHour Co. is the largest It has similar operations to Recommend
Co. player in Singapore and WorldWide Brewing across the Malaysia, in the segments of same segments and is the beer, spirits and non- leading player in Singapore and alcoholic beverages. Its Malaysia, suggesting the operations include potential for strategic benefits manufacturing facilities, and synergies. It has solid distribution and direct sales financial results and an and it has demonstrated ownership structure that is strong growth in EBITDA in owned by 3 families, rendering a FY2020 which was up 20% potential acquisition relatively pcp and amounted to simple and feasible. HappyHour US$300mm. Co. would be appropriate to share. Spirit Bay is the second Its segments and operations largest player in Singapore would be appropriate and Malaysia and largest strategically. The relatively player in Indonesia in distributed ownership with segments of beer, spirits 60% and of the company owned by non-alcoholic beverages. It Global Sponsor and 40% operates manufacturing owned facilities and engages in by employees would reduce distribution and direct simplicity but it would still be sales appropriate to share given its and its EBITDA grew by market position in Singapore, 40% Malaysia and Indonesia and pcp to US$400mm in exceptional financial FY2020 performance. [Insert sign-off and your name]