To: Carlos Johnson (Worldwide Brewing CEO)
From: JP Morgan
Subject: Opportunities in Asia to expand business
Dear Carlos,
These are the few opportunities for the expansion of business in Asia for your company.
Company Description
Happy HappyHour Co. is the largest
Hour 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
robust growth in EBITDA in
FY2020 which was up 20%
pcp and amounted to
US$300mm.
Spirit Bay Spirit Bay is the second
largest 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
robust growth in EBITDA in
FY2020 which was up 40%
pcp and amounted to
US$400mm.
Hipsters’ Ale is also a
Malaysian beer and spirits
Hipsters’ company operating in
Ale Singapore, Indonesia,
Japan, Korea, and
Cambodia. Hipsters’ Ale
also manufacture,
distribute, and sell their
products directly. it has
demonstrated robust growth
in EBITDA US$200mm (FY
June 2020 actuals) up 15%
pcp.
Brew Co. is a Malaysian
beer and spirit’s company.
Brew Co They only operate
manufacturing facilities
Relevance to Worldwide Recommendation
Brewing
It has similar operations to Recommend
WorldWide Brewing across the
same segments and is the
leading player in Singapore and
Malaysia, suggesting the
potential for strategic benefits
and synergies. It has solid
financial results and an
ownership structure that is
owned by three families,
rendering a potential acquisition
simple and feasible. HappyHour
Co. would be appropriate to
share.
It has similar operations to Recommend
WorldWide Brewing across the
same segments and is the
leading player in Singapore and
Malaysia, suggesting the
potential for strategic benefits
and synergies. It has solid
financial results and is owned by
shareholders 60% global
sponsors and 40% employee
owned. Spirit Bay would be an
excellent choice.
It is a Malaysian beer and Recommend
spirits company operating in
Singapore, Indonesia, Japan,
Korea, and Cambodia. The
company is owned by thirty
independent breweries. The
manufacturing facilities is led
by a consortium of
independent microbreweries
in each respective region.
It is no.1 player of alcohol Do Not recommend
manufact Shareholders are
mostly institutional. They are
listed on the Bursa Malaysia,
 but are the #1 alcohol the stock exchange in
manufacturing player in Malaysia.
Malaysia. They have earnt
US$800mm in EBITDA for
FY2020, which is 5% down.
Bevy’s Direct is a It is a Malaysia based wholesale Recommend
Singapore based company that operates across
beverages company that Malaysia, China, Indonesia,
Bevy’s operates across Malaysia, Japan, Korea, Cambodia,
Direct China, Indonesia, Japan, Australia, and New Zealand.
Korea, Cambodia, The owner is a wholefoods
Australia, and New retailer.
Zealand. They only do
wholesale distribution.
They recorded US$250mm
in FY2020 EBITDA, up 20%
from the year prior.

Thanking you
Ishita Mishra