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17 views

Task 2 Template

Uploaded by

ayushkadbe24
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONFIDENTIAL

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 beverages. US$mm FY18A FY19A FY20E
 Operations include manufacturing, distribution, and direct sales in Revenue 900 961 1,071
Singapore (HQ), Malaysia (manufacturing in Malaysia is outsourced Growth (%) - 6.35% 10.27%
to Brew Co.), and China.
 Recently expanded operations to China and have expansion plans Beer 100 110 135
for Cambodia. Spirits 75 85 105
 Majority Owner and Co-founder Ms. Happy is looking to exit while Non-alcoholic beverages 50 55 60
being in management with no close family to inherit the business. EBITDA 225 250 300
 Key Strengths:
Margin (%) 25.00% 26.01% 28.01%
o Largest beer and spirits company in Singapore & Malaysia.
o Largest non-alcoholic beverage company in Malaysia.
NPAT 135 153 193
o Developed a strong supply chain with strong relationships
Margin (%) 15.00% 15.92% 18.02%
with distributors.

Shareholders Indicative valuation

20% FY20E EBITDA (US$ mm) 300


Growth (%) 20% pcp

20% 60% EV/EBITDA Multiple 10.0x - 11.5x


Valuation Range (US$ mm) 3,000 - 3,500

Happy Family Hour Family Co Family

1
CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams


Mar 19, 2020 Access to Indictive Bid Document Valuation
 Initial valuation analysis based on indictive bid documents

Structuring and financing


9 AM Apr 9, 2020 - Indictive Bid Q&A Submission Date  Begin financing discussion
Round 1: Apr 13, 2020 (Hong Kong
Indicative Bid Time)
Phase Approval
5 PM May 13, 2020 (Hong Indicative Bid Due date  Collect and confirm required approvals.
Kong Time)

Late May 2020 Start of Final Bid Phase Site visit & management presentation
Release of Process Letter Two  Organize site visit and presentation
Access to electronic data room
Due diligence
 Conduct due diligence on new material collected
 Organize Q&A submission

Round 2: Final
Bid Phase Late July 2020 Final Bid Submission Valuation
 Finalize valuation based on financial forecasts
Financing
 Confirm sources of financing
Approvals
 Commence preparing approvals for internal regulatory approvals

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