Client – Worldwide Brewing
• Largest US manufacturer and supplier of beer, spirits and non-alcoholic beverages in the US
• Current operations generate US$1bn of EBITDA annually
• Limited domestic growth opportunities, looking to expand overseas
• CEO has identified Asia as a key opportunity as a rising middleclass is rapidly increasing the
demand for more premium beverages
Company 1 – HappyHour Co.
• HQ: Singapore | Other locations: Malaysia, China
• Segments: Beer, Spirits, Non-alcoholic beverages
o #1 player in Singapore and Malaysia
• Operations: Manufacturing facilities (Singapore, Malaysia (outsourced), China, new facilities
planned for Cambodia), Distribution, and Direct Sales
• Shareholders: Owned solely by three families (one has passed away forcing a sale process)
• EBITDA US$300mm (FY June 2020 actuals) up 20% pcp
Company 2 – Spirit Bay
• HQ: Indonesia | Other locations: Singapore, Malaysia, China
• Segments: Beer, Spirits, Non-alcoholic beverages
o #2 player in Singapore and Malaysia, #1 in Indonesia
• Operations: Manufacturing facilities (Indonesia), Distribution, and Direct Sales
• Shareholders: 60% owned by Global Sponsor, 40% employee owned
• EBITDA US$400mm (FY June 2020 actuals) up 40% pcp
Company 3 – Hipsters’ Ale
• HQ: Malaysia | Other locations: Singapore, Indonesia, Japan, Korea, Cambodia
• Segments: Beer, Spirits
• Operations: Manufacturing facilities (consortium of independent microbreweries in each
region), Distribution, and Direct Sales
• Shareholders: 30 independent breweries
• EBITDA US$200mm (FY June 2020 actuals) up 15% pcp
Company 4 – Brew Co.
• HQ: Malaysia
• Segments: Beer, Spirits
• Operations: Manufacturing facilities only
o #1 alcohol manufacturer in Malaysia
• Shareholders: listed on the Malaysian stock exchange (mostly institutional shareholders)
• EBITDA US$800mm (FY June 2020 actuals) down 5% pcp