To: Anna
From: Pamela Munoz
Subject: WorldWide Brewing Co. expansion opportunities
Dear Anna,
Hope this email finds you well. In relation to the subject, below you will find a description of five targets
companies which are of interest to WorldWide Brewing Co.’s expansion opportunities:
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.
Spirit Bay is the largest player
in Indonesia and the second
Spirit Bay one in Singapore, in the
segments of beer, spirits,
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 40%
pcp and amounted to
US$400mm.
Hipsters’ Ale is a Malaysian
Hipsters’ company with other locations
Ale in Singapore, Indonesia,
Japan, Korea, Cambodia. Its
segments include Beer and
Spirits and its operations
include manufacturing
facilities, distribution, and
direct sales. It has
demonstrated an interesting
growth in EBITDA in FY2020
which was up 15% pcp and
amounted to US$200mm.
Brew Co. is the largest
alcohol manufacturer in
Brew Co. Malaysia with segments in
beer, spirits. Its operations
include manufacturing
facilities. It has experienced a
Relevance to WorldWide
Brewing
It has similar operations to
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
WorldWide Brewing across the
same segments and is the
leading player in Indonesia and
Singapore, suggesting the
potential for strategic benefits
and synergies. It has solid
financial results and an
ownership structure owned by a
Global Sponsor and employees,
the acquisition is not so simple
but feasible. Spirit Bay would be
appropriate to share.
Its operations do not include all
WorldWide Brewing’s segments
(excludes non/alcoholic
beverages) there are strategic
benefits and synergies. It has
solid financial results and an
ownership structure owned by
30 independent breweries, the
acquisition could be complex
and not so feasible. Hipsters’ Ale
would not be appropriate to
share.
Its operations do not include all
WorldWide Brewing’s segments
(excludes non/alcoholic
beverages) there are no
strategic benefits and synergies
because its operations only
Recommendation
We believed that this
company is appropriate
to share with Carlos as
potential M&A target
because of strategic
benefits and synergies,
besides it involves an
acquisition relatively
simple and feasible.
We consider appropriate
to share this company
with Carlos as potential
M&A target because of
strategic benefits and
synergies. However, it
implies a complex
acquisition but feasible.
This company does not
seem attractive for
acquisition because a
there is no strategic
benefits and synergies. It
also involves a complex
acquisition and not
feasible.
This company does not
seem attractive for
acquisition because a
there is no strategic
benefits and synergies. It
also involves a complex
 lost in EBITDA in FY2020
which was down 5% pcp and
amounted to US$800mm.
Bevy’s Direct is company of
Bevy’s Singapore with other
Direct locations in Malaysia, China,
Indonesia, Japan, Korea,
Cambodia, Australia, New
Zealand and Segments
include beer, spirits and non-
alcoholic beverages. Its
operation includes only
wholesale distribution. It has
demonstrated a growth in
EBITDA in FY2020 which was
up 20% pcp and amounted to
US$250mm.
If you have any further questions, please do not hesitate to reach out any time.
Best regards.
Pamela Munoz
include manufacturing facilities. acquisition and not
It does not has solid financial feasible.
results and an ownership
structure owned by 30
independent breweries, the
acquisition could be complex
and not so feasible. Hipsters’ Ale
would not be appropriate to
share.
It has similar operations to We consider appropriate
WorldWide Brewing across the to share this company
same segments and is an with Carlos as potential
interesting player in Malaysia, M&A target because of
China, Indonesia, Japan, Korea, strategic benefits and
Cambodia, Australia, New synergies. Besides it
Zealand but they only do involves an acquisition
wholesale distribution. In relatively simple and
consequence their strategic feasible.
benefits and synergies are
limited. It has solid financial
results and wholefoods retailer,
rendering a potential acquisition
relatively simple and feasible.
Bevy’s Direct would be
appropriate to share.