Scribd
Upload
52 views

Task 2 Template

HappyHour Co. is a leading producer of beer, spirits, and non-alcoholic beverages in Singapore and Malaysia. It is looking to sell its operations and exit the market as the majority owner wants to retire with no family to inherit the business. Key financial details are provided for fiscal years 2018 to 2020 estimates, showing steady growth and increasing profitability. An overview of the auction process and timelines is also given, outlining the indicative and final bid phases from March to late July 2020.

Uploaded by

a
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
52 views

Task 2 Template

HappyHour Co. is a leading producer of beer, spirits, and non-alcoholic beverages in Singapore and Malaysia. It is looking to sell its operations and exit the market as the majority owner wants to retire with no family to inherit the business. Key financial details are provided for fiscal years 2018 to 2020 estimates, showing steady growth and increasing profitability. An overview of the auction process and timelines is also given, outlining the indicative and final bid phases from March to late July 2020.

Uploaded by

a
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 2

HappyHour Co.

S T R I C T LY P R I VAT E A N D C O N F I D E N T I A L

Leading producer of beer, spirits and


non-alcoholic beverages in Singapore &
Overview
Malaysia growing current operations Key financials
 Asia based producer of beer, US$mm FY18A FY19A FY20E
spirits, and non-alcoholic Revenue 900 961 1071
beverages. Growth(%) 7% 11%
 Operations include manufacturing,
Beer 100 110 135
distribution, and direct sales in
Spirits 75 85 105
Singapore(HQ), Malaysia
Non-alcoholic beverages 50 55 60
(manufacturing in Malaysia is
EBITDA 225 250 300
outsourced to Brew Co.), and
Margin(%) 25% 26% 28%
China.
 Recently expanded operations to NPAT 135 153 193
China and has expansion plans for Margin(%) 15% 16% 18%
Cambodia.
 Majority Owner and co-founder Ms.
Happy lookingShareholders.
to exit with no close
family to inherit the business. Indicative valuation

20
US$mm
% 2020E EBITDA 300
20
60 Growth(%) 20%
%
%
EV/EBITDA Multiple 10.0x-11.5x
Happy Family Hour Family Co Family Valuation Range 3000-3500

Source:Notes on HappyHour Co.

1
CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams


Mar 9, 2020 Access to Indicative Bid Documents Valuation
Initial valuation analysis based on indicative bid documents

Structure and financing


9am Apr 9, 2020 - 5pm Apr 13, Indicative Bid Q&A Submission Due Begin financing discussion
Round 1: 2020 (HKT)
Indicative Bid
Phase Approvals
Collect and confirm required approvals
5pm May 13, 2020 (HKT) Indicative Bid Due

Late May 2020 Start of Final Bid Phase Site visit & management presentation
Release of Process letter Two Organise site visit and presentation

Due Diligence
Conduct due diligence based on new information collected
Organise Q&A Submissions
Round 2: Final
Bid Phase Late July 2020 Final Bid Valuation
Finalise valuation based on new information forecasts
Financing
Confirm sources for financing
Approvals
Commence preparing applications for integral regulatory approvals

You might also like