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Task 2 Template

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11 views

Task 2 Template

Uploaded by

karanthdivyaspoorthi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONFIDENTIAL

HappyHour Co.
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 beverages.
US $mm FY18A FY18A2 FY19A
 operations includes manufacturing, distribution, and direct sales in Singapore Revenue 900 961.00 1071.00
(HQ), Malaysia (manufacturing in Malaysia is outsourced to Brew Co.) and China. Growth (%) nil 7% 11%
 Recently expanded operations to China and has expansion plans for Cambodia.

Beer 100 110 135
Majority Owner and co-founder Ms. Happy looking to exit with no close family to
inherit the business. Spirits 75 85 105
Non-alcoholic
 Key Strengths: beverages 50 55 60
 Largest Beer and Spirits company in Singapore & Malaysia. EBITDA 225 250 300
Margin (%) 25% 26% 28%
 Largest non-alcoholic beverages in Malaysia.
 Developed a strong supply chain with strong relationship with distributors. NPAT 135 153 193
Shareholders Margin (%) 15% 16% 18%

Co. Family
Indicative valuation
20%

US$ mm
Happy Family
60% 2020E EBITDA 300
Hour Family
20% Growth(%) 20%

EV/EBITDA multiple 10.0x-11.5x

Valuation range 300-3500


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

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 submission.

Round 2: Final Valuation


Bid Phase Late July 2020 Final Bid  finalize valuation based on the financial forecast.

Financing
 confirm sources for financing

Approvals
 commence preparing application for internal regulatory
approvals.

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