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[insert name]
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Subject:
[insert subject]
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[You may find it useful to format your email using the following table – we have given an example for one of
the companies below]
Company
Description
Relevance to WorldWide Brewing
Recommendation
HappyHour Co.
HappyHour Co. is the largest player in Singapore and Malaysia, in the segments of beer, spirits and non-
alcoholic beverages. Its operations include manufacturing facilities, distribution and direct sales and it has
demonstrated strong growth in EBITDA in FY2020 which was up 20% pcp and amounted to US$300mm.
It has similar operations to WorldWide Brewing across the same segments and is the leading player in Singapore
and Malaysia, suggesting the potential for strategic benefits and synergies. It has solid financial results and an
ownership structure that is owned by 3 families, rendering a potential acquisition relatively simple and feasible.
HappyHour Co. would be appropriate to share.
Recommend
Spirit Bay
Spirit Bay, an Indonesian company dominating the alcoholic and nonalcoholic beverage markets in Southeast
Asia, boasts top positions in Indonesia, #2 in Singapore and Malaysia. With integrated operations and
manufacturing facilities in Indonesia, the company, 60% owned by a Global Sponsor, has seen a 40% increase in
EBITDA to US$400mm through aggressive cost-cutting measures, despite no recent expansion into new
markets.
Worldwide Brewing, eyeing Asia's lucrative market, can benefit from Spirit Bay's established presence.
Leveraging Spirit Bay's expertise in the region and cost-cutting measures can enhance mutual growth and tap
into rising demand for premium beverages.
Recommend
Hipster’s Ale
Hipsters' Ale, a regional craft beverage brand with headquarters in Malaysia, boasts a consortium of 30
independent breweries across Asia. Specializing in beer and spirits, it achieved a robust EBITDA of US$200
million in FY June 2020, reflecting a 15% year-on-year growth. Operations include manufacturing, distribution,
and direct sales, spanning diverse markets such as Singapore, Indonesia, Japan, Korea, and Cambodia.
Worldwide Brewing, the largest US beverage manufacturer, seeks expansion into Asia's growing market.
Partnering with Hipsters' Ale, a regional craft brand with a strong presence, can provide strategic access and
local expertise.
Indifferent
Brew Co.
Brew Co., headquartered in Malaysia, dominates the alcohol market as the top manufacturer, specializing in
beer and spirits. With a robust presence on the Malaysian stock exchange, it reported an EBITDA of US$800
million in FY June 2020, slightly down by 5% compared to the previous year.
Worldwide Brewing can benefit from Brew Co.'s expertise in the Asian market. Collaborating with Brew Co.
could facilitate market entry, capitalize on the rising demand for premium beverages, and foster international
growth.
Not recommended
Bevy’s Direct
Bevy's Direct, headquartered in Singapore with locations across Asia-Pacific, specializes in wholesale
distribution of beer, spirits, and non-alcoholic beverages. Family-owned, boasting a robust EBITDA of
US$250mm (FY June 2020) with a 20% YoY increase.
Worldwide Brewing, the largest US beverage manufacturer, seeks Bevy's Direct's expertise for its Asia
expansion. Leveraging Bevy's stronghold in the region, Worldwide Brewing aims to tap into the rising demand
for premium beverages.
Indifferent
Vasu Jain