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The document provides an overview of HappyHour Co., a leading producer of beer, spirits, and non-alcoholic beverages in Singapore and Malaysia. It has recently expanded to China and plans to expand to Cambodia. The majority owner is looking to exit the business. The document also outlines the indicative bid process and key workstreams, including indicative bid submission, site visits, due diligence, and finalizing valuation and financing.

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bhartisumbriasuryavanshi
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8 views

Task

The document provides an overview of HappyHour Co., a leading producer of beer, spirits, and non-alcoholic beverages in Singapore and Malaysia. It has recently expanded to China and plans to expand to Cambodia. The majority owner is looking to exit the business. The document also outlines the indicative bid process and key workstreams, including indicative bid submission, site visits, due diligence, and finalizing valuation and financing.

Uploaded by

bhartisumbriasuryavanshi
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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C ONFID ENTIA L

HappyHour Co. Company Profile


Leading producer of beer. Spirits and non- alcoholic beverages in Singapore & Malaysia growing current operations

Overview Key financials


 Asia based producer of beer , spirits and non alcoholic beverage Us$mm. FY18A. FY19A. FY20A
 Recently expanded operations to china and has expansion plans for combodia Revenue. 900. 961. 1,071
Growth (%). - 7%. 11%
 Majority owner and co founder ms happy looking to exit with no close family to
inherit the business
Beer. 100. 110. 135
 Key strength:
Spirit. 75. 85. 105
 Largest beer and spirit company in Singapore & Malaysia Non-alcoholic beverages 50. 55. 60
 Largest non alcoholic beverages in Malaysia EBITDA. 225. 250. 300
Margin+%). 25%. 26%. 28%
 Devloped a strong supply chain with strong relationship with distributors.

Shareholders NPAT. 135. 153. 193


Margin (%). 15%. 16%. 18%
Family 1 owned (Happy Family): 60%
Family 2 owned(hour Family):20%
Family 3 owned(co Family):20%
Indicative valuation
US$mm
2929E EBITDA. 300
Growth (%). 20%

EV/EBITDA multiple 10.0X-11.5x


Valuation Range 3,000-3,500

Source:

1
C ONFID ENTIA L

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 92020-5pm apr Indicative Bid Q&A submission Due Begin financing discussion
Round 1: 13,2020(HKT)
Indicative Bid
Phase
Approvals
5pm may 13,2020(HKT) Indicative Bid Due
Collect and confirm required approval

Late May 2020 Start of final Bid phase Site visit & management presentation
Release of process Letter two Organize site visit and presentation

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

Round 2: Final Late July 2020 Final Bid


Bid Phase Valuation
Finalize valuation based on the financial forecasts

Financing
Confirm source gor financing

Approvals
Commence preparing application for internal regulatory approvals.

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