To: Carlos

From: Florian
Subject: []

Hello Carlos,
I hope this text find you well.

Here are 5 companies I selected for you according to your criteria :

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.
HQ: Indonesia | Other It has similar operations to Recommend
Spirit Bay locations: Singapore, WorldWide Brewing across the
Malaysia, China • Segments: same segments and is the
Beer, Spirits, Non-alcoholic leading player in Singapore and
beverages o #2 player in Malaysia, suggesting the
Singapore and Malaysia, #1 in potential for strategic benefits
Indonesia • Operations: and synergies. It has solid
Manufacturing facilities financial results and an
(Indonesia), Distribution, and ownership structure that is
Direct Sales • Shareholders: owned by 3 families, rendering a
60% owned by Global potential acquisition relatively
Sponsor, 40% employee simple and feasible. HappyHour
owned • EBITDA US$400mm Co. would be appropriate to
(FY June 2020 actuals) up share.
40% pcp
HQ: Malaysia | Other It has similar operations to No
Hipsters’ locations: Singapore, WorldWide Brewing across the
Ale Indonesia, Japan, Korea, same segments and is the
Cambodia • Segments: Beer, leading player in Singapore and
Spirits • Operations: Indonesia, suggesting the
Manufacturing facilities potential for strategic benefits
(consortium of independent and synergies. It has solid
microbreweries in each financial results and an
region), Distribution, and ownership structure that is
Direct Sales • Shareholders: owned by 30 families, rendering
30 independent breweries • a potential acquisition relatively
EBITDA US$200mm (FY June complexe. HappyHour Co.
2020 actuals) up 15% pcp
HQ: Malaysia • Segments: It has similar operations to No
Brew Co. Beer, Spirits • Operations: WorldWide Brewing across the
Manufacturing facilities only same segments and is the
o #1 alcohol manufacturer in leading player in Malaysia,
 Malaysia • Shareholders: suggesting the potential for
listed on the Malaysian stock strategic benefits and synergies.
exchange (mostly It has solid financial results and
institutional shareholders) • an ownership structure that is
EBITDA US$800mm (FY June mostly made of institutionals,
2020 actuals) down 5% pcp rendering a potential acquisition
relatively complexe.
Bevy’s HQ: Singapore | Other It has similar operations to Recommend
Direct locations: Malaysia, China, WorldWide Brewing across the
Indonesia, Japan, Korea, same segments and is the
Cambodia, Australia, New leading player in Malaysia and
Zealand • Segments: Beer, China, suggesting the potential
Spirits, Non-alcoholic for strategic benefits and
beverages • Operations: synergies. It has solid financial
Wholesale Distribution only • results and an ownership
Shareholders: Owned by one structure that is owned by 3
family • EBITDA US$250mm families, rendering a potential
(FY June 2020 actuals) up acquisition relatively simple and
20% pcp feasible. HappyHour Co. would
be appropriate to share.

Cordially,
Florian