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HappyHour Co. is a producer and marketer of beer, spirits, and non-alcoholic beverages based in Singapore with operations also in Malaysia and China. It owns manufacturing facilities and has a majority stake up for sale by the largest shareholder family. The company has recently expanded to China and plans new facilities in Cambodia, with a valuation estimated at $3.5 billion based on financial metrics. An overview document outlines the two-phase process for indicative bids and final bids for the majority stake, including due diligence, site visits, valuation analysis, and financing confirmation.

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43 views

Task 2 Template

HappyHour Co. is a producer and marketer of beer, spirits, and non-alcoholic beverages based in Singapore with operations also in Malaysia and China. It owns manufacturing facilities and has a majority stake up for sale by the largest shareholder family. The company has recently expanded to China and plans new facilities in Cambodia, with a valuation estimated at $3.5 billion based on financial metrics. An overview document outlines the two-phase process for indicative bids and final bids for the majority stake, including due diligence, site visits, valuation analysis, and financing confirmation.

Uploaded by

bhartisoni292
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONFIDENTIAL

HappyHour Co. Company Profile

Overview Key financials

 Producer and marketer of beer, spirits, and non-alcoholic beverages, its


operations include distribution and direct sales.
 Geography of operations : Singapore, Malaysia, China

 Owns and operates manufacturing facilities in Singapore and China, while


manufacturing is outsourced in Malaysia to Brew Co.
 HQ:Singapore

 Recently expanded operations to China and has new facilities planned for
Cambodia with strong supply chain
 High end product offerings in spirits segment with being the largest player in
Singapore and Malaysia

Shareholders

Indicative valuation
Family 1 owned (Happy Family) : 60%
EV/EBITDA at range of 10.0x-11.5x
Family 2 owned (Hour Family) : 20%
Potential growth as beer market in Asia is expected to continue
Family 3 owned (Co Family) : 20% growing at CAGR of 10%
Sale rumor about majority owner (Happy Family) 60% stake, she Good prospect of growth from product and demand perspective in long
plans to exit and retired term

Rumored valuation at US$ 3,500mm


Source:

1
CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams


March. 9,2020 Access to indicative bid documents - Valuation
Initial valuation analysis based on indicative bid documents.

- Structure and financing


9am Apr 9,2020 – 5pm Apr Indicative bid Q&A submission due Begin Financing discussion
Round 1:
Indicative Bid
Phase
- Approval
5 May 13,2020 (HKT)I Indicative bid due
Collect and confirm required approvals

Late May 2020 Start of final base Site visit and management presentation
Release of process letter two - Organize visit and presentation

Due diligence
- Conduct due diligence based on new information collected
- Organize Q&A Submissions

Round 2: Final Valuation


Bid Phase - Finalize valuation based on the financial forecasts

Financing
- Confirm source for financing

Approvals
- Commence preparing application for internal regulatory approvals

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