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Task 2 Template

Uploaded by

pcanhye17
Copyright
© © All Rights Reserved
Available Formats
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CONFIDENTIAL

HappyHour Co. Company Profile


Informations and details about the company.

Overview Key financials


Producer and marketer of beer, spirits, and non-alcoholic
beverages. EBITDA Margin: Not explicitly provided, but EBITDA is reported as
Operations include distribution and direct sales in Singapore, US$300 million (FY June 2020).
Malaysia, and China. Net Profit Margin: Not provided directly, but profitability can be
Owns and operates manufacturing facilities in Singapore and estimated based on EBITDA and other expenses.
China, while manufacturing is outsourced in Malaysia to Brew Co. Revenue: Not explicitly provided, but given the EBITDA of US$300
Founded in 1975 by majority owner and co-founder Ms. Happy. million, revenue is likely to be significantly higher.
Headquarters in Singapore. Indicative Valuation: Preliminary valuation of US$3,500 million
Recently expanded operations to China and has new facilities quoted for the business, suggesting a strong market value.
planned for Cambodia. Growth Strategy: Recently expanded operations to China and has
new facilities planned for Cambodia, indicating a focus on growth and
expansion.

Shareholders

Indicative valuation
Happy Family: 60% ownership.
Hour Family: 20% ownership.
Co Family: 20% ownership.
The indicative valuation for HappyHour Co. is quoted at US$3,500
million. This valuation suggests a significant market value for the
company, reflecting its strong market position, growth potential, and
strategic value to potential buyers. However, it's important to note
that this is a preliminary valuation and may be subject to change
based on further due diligence and negotiations.

Source:

1
CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams


19th March 2020 Indicative Bid Phase Access to Information: Bidders will be granted access to the
Information Memorandum, vendor due diligence reports, and financial
forecasts on a no-reliance basis. Access will be provided via an
online data room, starting on March 19, 2020.
Purpose of Documents: The Indicative Bid Documents are intended
to help bidders prepare and submit their indicative bids for the
transaction.
Question and Answer Process: Bidders can participate in a
Round 1: question and answer process, known as the Indicative Bid Q&A
Indicative Bid Process, by submitting questions via a provided form. This process
Phase allows bidders to seek clarification on the information provided in the
Indicative Bid Documents.
Rules for Participation in Q&A Process:
 Bidders can submit a maximum of 20 questions between April 9,
2020, and April 13, 2020, at 5pm (Hong Kong Time).
 Responses to the questions will be provided to all bidders via the
online data room, ensuring confidentiality of the question
sources.

Late May 2020 Final Bid Phase Timing and Process: The Final Bid Phase is expected to start in late
May 2020, following the Indicative Bid Phase. Shortlisted Bidders will
be chosen to progress to this phase.
Submission of Final Bids: Shortlisted Bidders will be required to
submit full and legally binding bids, known as the "Final Bid," in late
July 2020.
Access and Resources: During the Final Bid Phase, Shortlisted
Bidders will have access to:
 Further access to the electronic data room with due diligence
materials.
Round 2: Final  Guided site visits to HappyHour's facilities.
Bid Phase  Presentations from HappyHour's management team to provide
additional insights into the company.
 An additional question and answer process to clarify any
remaining doubts or queries.
 Transaction implementation documentation to assist in finalizing
1 the bid.
Purpose of Phase: The Final Bid Phase allows Shortlisted Bidders to
conduct more in-depth due diligence, engage directly with
management, and submit a comprehensive and competitive bid for
the acquisition of HappyHour Co.

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