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Task 1 - Email Template v2

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simunovicdeni
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© © All Rights Reserved
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To: Anna

From: Daniel Simunovic


Subject: Potential M&A Targets for WorldWide Brewing Co. in Asia

Hi Anna,

Following up on our previous conversation regarding WorldWide Brewing Co.'s interest in expanding into the
Asian market through mergers and acquisitions, I have compiled a list of potential targets that align with their
strategic goals. Below is a detailed table summarizing the companies we have identified as promising
candidates:

Company Description Relevance to WorldWide Recommendation


Brewing

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


Co. player in Singapore and WorldWide 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 is headquartered in Spirit Bay offers a strong market Recommend
Spirit Bay Indonesia and operates in presence in Indonesia and
beer, spirits, and non- growth potential in other key
alcoholic beverages in markets. The aggressive cost-
Singapore, Malaysia, and cutting measures and significant
China. They are the #1 player growth rate indicate a solid
in Indonesia and #2 in financial position. However,
Singapore and Malaysia. their 60% ownership by a Global
Their EBITDA for FY2020 was Sponsor might complicate the
US$400mm, showing a 40% acquisition process.
increase.
Hipsters’ Hipsters’ Ale, based in The decentralized ownership Recommend
Ale Malaysia, operates in beer structure might present
and spirits across Singapore, challenges, but it also offers
Indonesia, Japan, Korea, and unique opportunities for
Cambodia. It is owned by 30 collaboration with various
independent breweries and microbreweries. This structure
operates through a could benefit WorldWide
consortium of independent Brewing by adding a diverse
microbreweries. Their EBITDA portfolio of products and
for FY2020 was US$200mm, regional expertise.
up 15% from the previous
year.
Brew Co. is the leading Brew Co.’s strong manufacturing Not Recommend
Brew Co. alcohol manufacturer in capabilities and leading position
Malaysia, focusing solely on in Malaysia make it a valuable
beer and spirits acquisition target. The company
manufacturing. They earned is listed on the Malaysian stock
US$800mm in EBITDA for exchange, with mostly
FY2020, though this institutional shareholders, which
represented a 5% decrease could simplify the acquisition
from the previous year. process.
Bevy’s Direct, headquartered Although Bevy’s Direct focuses Recommend
Bevy’s in Singapore, specializes in on wholesale distribution rather
Direct the wholesale distribution of than manufacturing, its
beer, spirits, and non- extensive distribution network
alcoholic beverages across across Asia-Pacific could
multiple countries, including complement WorldWide
Malaysia, China, Indonesia, Brewing’s manufacturing
Japan, Korea, Cambodia, capabilities, enabling efficient
Australia, and New Zealand. market entry and expansion.
Their FY2020 EBITDA was
US$250mm, up 20% from the
previous year.

Please let me know if you need any further details or if there are any specific areas you would like us to focus
on.

Best regards,
Daniel

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