To:

[Managing Director

JPMorgan

USA ]

From:

[Managing Director

JPMorgan

Hong kong ]

Subject:[potential M&A target for project for Worldwide brew Co in Asia]

Hi Sir/Madam,

[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 Relevance to World Wide Recommendation

Brewing

HappyHour HappyHour Co. is the largest It has similar operations to Recommend

Co. player in Singapore and World Wide 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 Spirit Bay is the largest player Since it is already acquired by Will not recommend
in Indonesia and 2nd largest global sponsors it will be difficult
player in Singapore and to acquire share in the company.
Malaysia, in the segments of
beer, spirits and non
alcoholic beverages. It’s
operation include
manufacturing facilities,
distribution and direct sales
and it has demonstrated
significant growth in EBIDTA
in FY2020 which was up 40%
pcp and amounted to
US$400mm.
 Hipsters’ Hipsters’ Ale is one of the
Ale largest beverages company in
East Asia, in the segments of
beer and spirit. Its operation
include manufacturing
facilities, distribution and
direct sales and it has grown
EBIDTA up to 15% pcp in FY
2020 and amounted to
US$200mm.
Brew Co. Brew Co is one of the largest
alcohol manufacturer in
Malaysia in the segments of
beer and spirit. Their
operation includes only
manufacturing facilities. It
has increase in growth up to
5% pcp in FY 2020 on EBIDTA
and amounted to 800mm.
Bevy’s Bevy’s Direct is one of leading
Direct beverages company in
Australia, Newzealand and
EastAsia in the segments of
beer, spirit and non alcoholic
beverages. Their operation
includes only wholesale
distribution. It’s business has
grown upto 20% pcp in FY
2020 on EBIDTA and
generated 250mm.
[Sign
Name[]
It can be a good idea to acquire Recommend
a company owned by
independent breweries, as it
would allow you to gain access
to a diverse range of products
and brands that are popular
among consumers who
appreciate craft and small-batch
brewing. Additionally, acquiring
such a company can also help
you expand your market reach
and enter new markets where
independent breweries have a
strong presence.
Acquiring a listed company can Recommend
help diversify your business
portfolio and reduce risks
associated with relying on a
single business. The acquired
company may already have an
established brand and
reputation in the market, which
can provide a competitive
advantage.
Whether acquiring a family- Recommend
owned business is a good
decision depends on the specific
circumstances of the deal and
the goals of the acquirer. It is
important to conduct thorough
due diligence, carefully evaluate
the risks and benefits, and seek
advice from legal and financial
experts before proceeding with
the acquisition.