To: [Anna]
From: [Junkai Wang]
Subject: [Worldwide Brewing M&A targets]
[Insert greeting]
Dear Anna,
Hope this email finds you well. Below is a profile of 5 companies that are targets for mergers and acquisitions,
and I've conveyed the company's profile, strengths, and level of recommendation through a template.
[You may find it useful to format your email using the following table – we have given an example for one of the
companies below]
Company Description
HappyHour HappyHour Co. is the largest
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
strong growth in EBITDA in
FY2020 which was up 20%
pcp and amounted to
US$300mm.
Spirirt Bay Spirit Bay is the #1 player in
Indonesia, and #2 in
Singapore and Malaysia, in
the segments of beer, spirits
and non-alcoholic beverages.
Its operations include
manufacturing facilities
(Indonesia), distribution, and
direct sales. It has
demonstrated strong growth
in EBITDA in FY June 2020
which was up 40% pcp and
amounted to US$400mm.
Hipsters’ Hipsters’ Ale is a Malaysian
Ale beer and spirits company
operating in Singapore,
Indonesia, Japan, Korea and
Cambodia. The operations of
Hipsters’ Ale is similar to the
other companies I ‘ve
mentioned. The company is
owned by 30 independent
breweries. In fact, the
manufacturing facilities is led
by a consortium of
independent microbreweries
in each respective region.
They’ve earnt US$200mm
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 3 families, rendering a
potential acquisition relatively
simple and feasible. HappyHour
Co. would be appropriate to
share.
It has similar operations to Not Recommend
WorldWide Brewing across the
same segments and is the
leading player in Indonesia, #2
player in Singapore and
Malaysia, suggesting the
potential for strategic benefits
and synergies. It has great
financial results. However, it is
owned by Global Sponsor(60%)
and employee(40%), rendering a
potential acquisition relatively
difficult and complicated.
It has similar operations to Not Recommend
WorldWide Brewing across the
same segments. It has good
financial results relatively. It is
owned by 30 independent
breweries，which means a
potential acquisition relatively
difficult and complicated.
 EBITDA in FY2020, up 15% on
the previous period.
Brew Co. Brew Co. is a Malaysian beer
and spirits company. They
only operate manufacturing
facilities, but are the #1
alcohol manufacturing player
in Malaysia. The shareholders
of the company are mostly
institutional. They’ve earnt
US$800mm in EBITDA for
FY2020, which is actually 5%
down from last year.
Bevy’s Bevy’s Direct, based in
Direct Singapore. They operate in
beer, spirits and non-
alcoholic beverages across
Malaysia, China, Indonesia,
Japan, Korea, Cambodia,
Australia and New Zealand,
but they only do wholesale
distribution. The owner is a
wholefoods retailer, and they
recorded US$250mm in
FY2020 EBITDA, up 20% from
the year prior.
[Insert sign-off and your name]
Sincerely，
Junkai Wang
The operation of this company is Not Recommend
simple, so it is easier to know
the situation of this company. Its
financial results are not good,
however, it may be caused by
unknown factor. Shareholders
are mostly institutional, so it
may have potential acquisition
challenge.
It has similar operations to Recommend
WorldWide Brewing across the
same segments. The company
covers many regions in Asia,
making it easy to conduct
business in the region. The
financial results of this company
are good. And the owner of this
company is a wholefoods
retailer, which means the
potential acquisition is relatively
simple and feasible.