DOCSLIB.ORG

S Elect P Erspectives on a Lternate M Eat

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
S Elect P Erspectives on a Lternate M Eat S ELECT P ERSPECTIVES ON A LTERNATE M EAT JUNE 2 0 2 1 1 EXECUTIVE SUMMARY Trends & Drivers GCA Consumer Practice – Regional Leaders ▪ Alternate meat……Plant-based meat……Cultivated/Cultured meat……Alternate Protein……is the next big revolution in food ▪ Increasing consumer awareness about harmful effects of the livestock industry on carbon emissions and global warming, a shift towards ESG and a desire to eat healthier are key factors responsible for growing popularity of alternate meat industry ▪ The COVID pandemic has further provided a fillip to this industry as consumers look for healthier Sameer Jindal Sunil Mehra alternatives as a foil against animal-borne diseases and a shift towards eco-friendly eating Managing Director Managing Director options Mumbai Mumbai ▪ While US and Europe are at the forefront, the alternate meats revolution is fast gaining traction [email protected] [email protected] in Asia and Australia ▪ Globally, there is already significant involvement from accelerators, PE/ VCs and Corporates and we expect many more consumer-, food- and ESG-focused investment pools to start evaluating and investing in alternate meat brands and companies across the value chain John Lambros Ryohei Tsukinari Meat Alternatives and Possibilities Managing Director Executive Director New York Tokyo ▪ Alternate Meats have largely two key classifications depending on ingredients and manufacturing [email protected] [email protected] process – Plant-based (Vegetarian) and Cultivated (derived from actual animal cells) ▪ There is a strong and growing ecosystem across the value chain, making this a continuously evolving category. We believe this is likely to gain far greater acceptance as scale effect kicks in, also leading to diverse products and competitive pricing ▪ Players will work towards building strong “competitive moats” in R&D, manufacturing, customer relationships and branding. Alternatively, they will focus to create a product or technology niche Alex Grünwald Sigurd Solheim ▪ We are extremely bullish on the growth of this industry globally and are keenly following this Managing Director Managing Director exciting and burgeoning ecosystem! Zurich Lausanne alexander.gruenwald [email protected] @gcaaltium.com 2 I GCA Overview II Introduction III Plant-based Meat Table of IV Cultivated Meat Contents V Key Considerations VI What’s Next? 3 JOBS/EMPLOYMENT DATA 01 GCA OVERVIEW 4 GCA: A LEADING INDEPENDENT GLOBAL INVESTMENT BANK Global investment bank providing fund raising and M&A advisory services to growth companies and market leaders ~100 professionals in the US ~200 professionals in Europe ~190 professionals in Asia 47 deals >420 >490 Our Services closed in transactions bankers Q1 2021 in last 36 160 deals Deep months closed in sub-sector 2020 expertise Private Equity LEEDS STOCKHOLM MANCHESTER LONDON BIRMINGHAM FRANKFURT M&A Advisory MUNICH SAN FRANCISCO PARIS KYOTO ZURICH MILAN OSAKA TOKYO SHANGHAI NEW YORK TEL AVIV NAGOYA LAUSANNE FUKUOKA NEW DELHI Debt MUMBAI Advisory HO CHI MINH CITY SINGAPORE Financial Restructuring Global Consumer & Retail Cross-border Growth companies Global reach with 24 offices in key Leading advisor in Consumer & Expert advisor for cross-border Strong expertise in advising growth markets – but deep local roots ensure Retail with strong networks and transactions – about 50% of companies and leading corporations close, hands-on support for our clients extensive market coverage transactions are cross-border across sectors GCA operates as GCA in America and Asia and GCA Altium in Europe 5 LEADING GLOBAL ADVISOR IN KEY SECTORS Expertise across growth sectors Meet Our Team CONSUMER, RETAIL, TECHNOLOGY DIGITAL MEDIA & MEDIA FINANCIAL TECHNOLOGY E-COMMERCE & LEISURE & SERVICES We advise clients on food and The team’s experience includes Our bankers work with industry leaders As payments and banking become a beverages, e-commerce, specialty software, semiconductors and across ad-tech, digital content, filmed virtual reality for many, our bankers retail, apparel, action sports and electronics, SaaS, and tech-enabled entertainment, gaming and mobile, as are working with sector leaders and consumer tech, as well as the services well as major broadcasters innovators across the Fintech space hospitality sector and online travel INDUSTRIAL & INDUSTRIAL BUSINESS SERVICES HEALTHCARE TECHNOLOGY We advise across a wide range of We have solid experience in BPO, We work with clients in industrial sub-sectors, including facility management, governmental biopharmaceuticals, diagnostics & aerospace & defense, energy, and services, customer experience as well research tools, medical devices, transportation amongst many more as human capital management healthcare IT, and care services 6 FULL COVERAGE ACROSS THE ESG SPACE Extensive understanding and knowledge across the ESG sectors Meet Our Team AgTech & FoodTech Energy Waste & Water Education Efficiency Recycling Food Science We work with leading We advise leading We cover the full range of the We work alongside companies within the Energy environmental technology and education sector including companies in IT Services such Efficiency sector, from smart process solutions for the student-focused software, as IT Consulting and Managed building & homes, electric treatment of water and We work with companies within the Agtech corporate learning Services, all the way through vehicles & charging to wastewater and Foodtech markets including software management systems and the starting and ending point intelligent traffic & on their strategic (ex. farm management systems), devices corporate training, e-learning of the value chain with IT telematics transactions (ex. seed sorting), sustainable packaging and compliance distributors, VAR and and food innovations ITAM/ITAD companies 7 JOBS/EMPLOYMENT DATA 02 INTRODUCTION 8 WHY ALTERNATE MEAT? Better for health and environment Relevant to key UN Sustainable Development Goals ▪ Cutting down consumption of ▪ Vastly more sustainable than conventional meat and replacing it with meat alternate meat ensures lower – Animal agriculture uses 77% of the total risk of cardiovascular disease available agricultural land; responsible ▪ Contains sustainable for ~15% of total GHG emission carbohydrates and healthy ▪ Less damaging for the climate as emissions fats that can help balance of GHG are reduced by up to 90% compared blood sugars to conventional meat Alternate meat significantly reduces adverse environmental impact of traditional meat Conventional Beef Burger Alternate Meat Burgers Sustainable Development Goals 2030 Beyond Burger Impossible Burger 99% Less Water 87% Less Water 93% Less Land Usage 96% Less Land Usage 90% Less GHG 89% Less GHG 46% Less Energy 45% Less Energy Source:Beyond Meat and Impossible Foods websites; various news organizations GHG: Green House Gas 9 ALTERNATE MEAT – AN IMPERATIVE TO MEET GLOBAL FOOD DEMAND A growing population needs new protein alternatives CAGR 2025-40 9.8Bn People “The reality is that conventional "To meet the growing global demand for By 2050 production methods for meat can protein, it will take all of us working Plant-based Meat 9% not keep up with global demand together – we need both animal and cell- which is expected to double by based. Our continued investment in 2050.” Memphis Meats underscores our inclusive 100% approach to the future of meat. We need Cultivated Meat Protein Demand all options on the table to meet customer 41% and consumer needs now and in the future." Priti Youssef Choksi Elizabeth Gutschenritter 2 Earths Partner Needed MD, Alternative Protein Conventional Meat (3)% Analysts estimate that global sales of alternative meats could grow from 1% of the total meat market (currently, $1Tn+) to 10% over the next decade 89% 73% 71% 66% 31% Consumers believe Consumers seek out Consumers are concerned Consumers believe plant- U.S. consumers are "flexitarians“, protein contributes to a natural foods with simpler, about the long-term based meats are healthier who use plant-based meats because healthy diet cleaner ingredients health impact of artificial than animal meat they like to have days without ingredients eating animal-based meat Source: Beyond Meat website; FoodInsight.org; Nielson Survey report; GCA estimates; AT Kearney public report 10 CARVING UP THE ALTERNATE MEAT STACK ▪ Plant-based meat products are made by combining Traditional meat Alternate meat commonly-found plant proteins and fats via an production production extrusion process Plant-based Cultivated/Cultured ▪ Process involves pushing dry protein ingredients through an opening in a perforated plate or die based - ▪ Pressure, heat, cooling and the shape of the die Ingredients Cell Selection create desired texture and shape Barn-breeding Plant ~2 months Extrusion Treatment of from plant Medium Feedlot 4 months - 3 years - 3 ▪ Cultivated meat, also known as cultured meat, is 2 genuine animal meat (including seafood and organ meats) that is produced by cultivating animal cells Formulation Scaffolding and directly Bioreactor Slaughter ▪ Cultivated meat is made of the same cell types arranged in the same or similar structure as animal tissues, thus replicating the sensory and nutritional profiles of conventional meat End product End product Processing Cultivated/Cultured Source: CB Insights; various news organizations 11 THE GCA CONSUMER AND FOOD TEAM 03 PLANT-BASED MEAT 12 A MASSIVE BLUE OCEAN MARKET Global plant-based food market (including dairy and While dairy is the largest, alternate meat is growing
Load more

Recommended publications
  • From the Ground up the First Fifty Years of Mccain Foods
    CHAPTER TITLE i From the Ground up the FirSt FiFty yearS oF mcCain FoodS daniel StoFFman In collaboratI on wI th t ony van l eersum ii FROM THE GROUND UP CHAPTER TITLE iii ContentS Produced on the occasion of its 50th anniversary Copyright © McCain Foods Limited 2007 Foreword by Wallace McCain / x by All rights reserved. No part of this book, including images, illustrations, photographs, mcCain FoodS limited logos, text, etc. may be reproduced, modified, copied or transmitted in any form or used BCE Place for commercial purposes without the prior written permission of McCain Foods Limited, Preface by Janice Wismer / xii 181 Bay Street, Suite 3600 or, in the case of reprographic copying, a license from Access Copyright, the Canadian Toronto, Ontario, Canada Copyright Licensing Agency, One Yonge Street, Suite 1900, Toronto, Ontario, M6B 3A9. M5J 2T3 Chapter One the beGinninG / 1 www.mccain.com 416-955-1700 LIBRARY AND ARCHIVES CANADA CATALOGUING IN PUBLICATION Stoffman, Daniel Chapter Two CroSSinG the atlantiC / 39 From the ground up : the first fifty years of McCain Foods / Daniel Stoffman For copies of this book, please contact: in collaboration with Tony van Leersum. McCain Foods Limited, Chapter Three aCroSS the Channel / 69 Director, Communications, Includes index. at [email protected] ISBN: 978-0-9783720-0-2 Chapter Four down under / 103 or at the address above 1. McCain Foods Limited – History. 2. McCain, Wallace, 1930– . 3. McCain, H. Harrison, 1927–2004. I. Van Leersum, Tony, 1935– . II. McCain Foods Limited Chapter Five the home Front / 125 This book was printed on paper containing III.
    [Show full text]
  • Read the Report
    7 Dec 2020 CMB International Securities | Equity Research | Company Initiation Yum China (9987 HK) BUY (Initiation) Digital, delivery, Pizza Hut reform driven growth Target Price HK$562.71 Up/Downside +25.9% Initiate BUY on YUMC, as we forecast 14% NP CAGR in FY19-22E (even under Current Price HK$447.00 drags by COVID-19) vs 13% in FY16-19, driven by: 1) near term favorable food, staff and rental costs, 2) more new stores and better locations, 3) various longer- China Catering Sector term benefits yield from digital upgrades and 4) Pizza Hut reforms. Our TP of HK$ 562.71 is based on 36x FY21E P/E, 5% discount to leading China peer’s Walter Woo avg. but 16% higher than Int’l peers’ avg.. YUMC’s valuation is attractive at 29x (852) 3761 8776 FY21E P/E and 3.3x PEG, well below HDL’s 51x and 5.9x, JMJ’s 45x and 9.1x. [email protected] A restaurant empire with leading product, digital and delivery quality. Yum China (“YUMC”) is the largest restaurant group in China by sales in 2019 (~1.4% Stock Data market share). It owned 9,200 restaurants in China (6,534 KFC/ 2,281 Pizza Hut/ Mkt Cap (HK$ mn) 187,447 385 others) and recorded USD 8.8bn sales and USD 700mn NP in FY19. Avg 3 mths t/o (HK$ mn) NA 52w High/Low (HK$) 482.4/385.6 Multiple near-term catalysts and too conservative consensus. We expect Total Issued Shares (mn) 419.3 SSSG to turn positive to 14% YoY in FY21E, thanks to: 1) consumption Source: Bloomberg recovery, 2) low base, 3) favourable food and staff cost trends, 4) superior digital and delivery upgrades and 5) better store locations and rental terms.
    [Show full text]
  • What Constitutes the Success Or Failure Of
    Old Dominion University ODU Digital Commons Graduate Program in International Studies Theses & Graduate Program in International Studies Dissertations Winter 2014 What Constitutes the Success or Failure of Multinational Corporations (MNCs) in Foreign Markets? A Case Study of Chinese and American MNCs Shiwei Jiang Old Dominion University Follow this and additional works at: https://digitalcommons.odu.edu/gpis_etds Part of the International Business Commons, International Economics Commons, and the International Relations Commons Recommended Citation Jiang, Shiwei. "What Constitutes the Success or Failure of Multinational Corporations (MNCs) in Foreign Markets? A Case Study of Chinese and American MNCs" (2014). Doctor of Philosophy (PhD), dissertation, International Studies, Old Dominion University, DOI: 10.25777/e9ta-r119 https://digitalcommons.odu.edu/gpis_etds/63 This Dissertation is brought to you for free and open access by the Graduate Program in International Studies at ODU Digital Commons. It has been accepted for inclusion in Graduate Program in International Studies Theses & Dissertations by an authorized administrator of ODU Digital Commons. For more information, please contact [email protected]. WHAT CONSTITUTES THE SUCCESS OR FAILURE OF MULTINATIONAL CORPORATIONS (MNCS) IN FOREIGN MARKETS? A CASE STUDY OF CHINESE AND AMERICAN MNCS by Shiwei Jiang B.A. July 2009, Beijing Normal University M.A. December 2011, Old Dominion University A Dissertation Submitted to the Faculty of Old Dominion University in Partial Fulfillment of the Requirements for the Degree of DOCTOR OF PHILOSOPHY INTERNATIONAL STUDIES OLD DOMINION UNIVERSITY December 2014 T5avid Earnest (Director) Brandon Yoder (Member) Shaomin Li (Member) ABSTRACT WHAT CONSTITUTES THE SUCCESS OR FAILURE OF MULTINATIONAL CORPORATIONS (MNCS) IN FOREIGN MARKETS? A CASE STUDY OF CHINESE AND AMERICAN MNCS Shiwei Jiang Old Dominion University, 2014 Director: Dr.
    [Show full text]
  • 2020 Plant-Based State of the Industry Report
    State of the Industry Report | Plant-Based Meat, Eggs, and Dairy 1 Table of Contents — Executive summary 6 Section 1: Introduction 9 Section 2: Commercial landscape 11 Overview and major developments 11 A note on Covid-19 in the United States 12 Figure 1: Sales growth of plant-based meat and animal-based meat in 2020 over 2019 12 Retail product launches 13 Box 1: Plant-based meat works toward price parity 15 Figure 2: U.S. consumers: barriers to eating plant-based meat products (March 2020)16 Figure 3: U.S., German, and British consumers: factors that would lead to interest in trying plant-based meat (August 2020) 17 Top-selling plant-based meat and dairy brands in U.S. retail 24 Table 1: Top 10 plant-based meat brands by dollar sales in U.S. retail (alphabetized) 24 Table 2: Top 10 plant-based dairy brands by dollar sales in U.S. retail (alphabetized) 27 Foodservice partnerships and expansion 28 Box 2: Co-branding in foodservice 30 Early-stage companies 31 Table 3: Top 10 plant-based food producer fundraising rounds of 2020 31 Developments in the upstream supply chain 32 Section 3: Sales 37 U.S. retail sales overview 37 Box 3: U.S. retail market data collection 37 Figure 4: Total U.S. retail plant-based food market 38 Figure 5: U.S. retail plant-based food dollar sales by category 38 Figure 6: U.S. retail plant-based dollar share of total category 39 Plant-based purchasing dynamics 39 Box 4: U.S. consumer panel data collection 39 Figure 7: Household penetration of plant-based products 41 U.S.
    [Show full text]
  • KFC Development in Chinese Market—Based on the Social Responsibility and Ethics
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by CSCanada.net: E-Journals (Canadian Academy of Oriental and Occidental Culture,... ISSN 1923-841X [Print] International Business and Management ISSN 1923-8428 [Online] Vol. 10, No. 3, 2015, pp. 142-146 www.cscanada.net DOI:10.3968/7102 www.cscanada.org KFC Development in Chinese Market—Based on the Social Responsibility and Ethics LI Shuailing[a],*; YU Zhi[a] [a] School of Economics and Management, Southwest University, entered China in 1987. The Front Door of Beijing opened Chongqing, China. *Corresponding author. the first western-style fast-food restaurant chain in China. Now, KFC is affiliated with Yum brands, and forms a Supported by The Fundamental Research Funds For The Central strategic alliance with Pepsi. Universities (1509314). The purpose of this paper is to survey the current state in china and briefly discuss predicted Abstract advancements of KFC in the field. By examining a This report investigates the current state of Kentucky range of recently published journal articles, and internet Fried Chicken and its development from the past 27 years sites on the topic of KFC operation in china. The paper of operation in china. Beside, we examines the predicted describes the five points that make an important content future advancements of KFC. The discussion focuses of our study. Also, we examine the current situation on on the advantages and limitations of KFC’s market KFC’s market scale. The report considers the effects of evaluation. The performance of KFC sales in china is further strategic advance in some areas and the effects examined in relation to the five points, that is KFC’s on its future development.
    [Show full text]
  • Yum China (9987
    7 Dec 2020 CMB International Securities | Equity Research | Company Initiation Yum China (9987 HK) BUY (Initiation) Digital, delivery, Pizza Hut reform driven growth Target Price HK$562.71 Up/Downside +25.9% Initiate BUY on YUMC, as we forecast 14% NP CAGR in FY19-22E (even under Current Price HK$447.00 drags by COVID-19) vs 13% in FY16-19, driven by: 1) near term favorable food, staff and rental costs, 2) more new stores and better locations, 3) various longer- China Catering Sector term benefits yield from digital upgrades and 4) Pizza Hut reforms. Our TP of HK$ 562.71 is based on 36x FY21E P/E, 5% discount to leading China peer’s Walter Woo avg. but 16% higher than Int’l peers’ avg.. YUMC’s valuation is attractive at 29x (852) 3761 8776 FY21E P/E and 3.3x PEG, well below HDL’s 51x and 5.9x, JMJ’s 45x and 9.1x. [email protected] A restaurant empire with leading product, digital and delivery quality. Yum China (“YUMC”) is the largest restaurant group in China by sales in 2019 (~1.4% Stock Data market share). It owned 9,200 restaurants in China (6,534 KFC/ 2,281 Pizza Hut/ Mkt Cap (HK$ mn) 187,447 385 others) and recorded USD 8.8bn sales and USD 700mn NP in FY19. Avg 3 mths t/o (HK$ mn) NA 52w High/Low (HK$) 482.4/385.6 Multiple near-term catalysts and too conservative consensus. We expect Total Issued Shares (mn) 419.3 SSSG to turn positive to 14% YoY in FY21E, thanks to: 1) consumption Source: Bloomberg recovery, 2) low base, 3) favourable food and staff cost trends, 4) superior digital and delivery upgrades and 5) better store locations and rental terms.
    [Show full text]
  • Yum China (YUMC
    7 Dec 2020 CMB International Securities | Equity Research | Company Initiation Yum China (YUMC US) BUY (Initiation) Digital, delivery, Pizza Hut reform driven growth Target Price US$72.61 Up/Downside +27.9% Initiate BUY on YUMC, as we forecast 14% NP CAGR in FY19-22E (even under Current Price US$56.76 drags by COVID-19) vs 13% in FY16-19, driven by: 1) near term favorable food, staff and rental costs, 2) more new stores and better locations, 3) various longer- China Catering Sector term benefits yield from digital upgrades and 4) Pizza Hut reforms. Our TP of US$ 72.61 is based on 36x FY21E P/E, 5% discount to leading China peer’s avg. Walter Woo but 16% higher than Int’l peers’ avg.. YUMC’s valuation is attractive at 29x FY21E (852) 3761 8776 P/E and 3.3x PEG, well below HDL’s 51x and 5.9x, JMJ’s 45x and 9.1x. [email protected] A restaurant empire with leading product, digital and delivery quality. Yum China (“YUMC”) is the largest restaurant group in China by sales in 2019 (~1.4% Stock Data market share). It owned 9,200 restaurants in China (6,534 KFC/ 2,281 Pizza Hut/ Mkt Cap (US$ mn) 23,802 385 others) and recorded USD 8.8bn sales and USD 700mn NP in FY19. Avg 3 mths t/o (US$ mn) 142.2 52w High/Low (US$) 60.97/38.33 Multiple near-term catalysts and too conservative consensus. We expect Total Issued Shares (mn) 419.3 SSSG to turn positive to 14% YoY in FY21E, thanks to: 1) consumption Source: Bloomberg recovery, 2) low base, 3) favourable food and staff cost trends, 4) superior digital and delivery upgrades and 5) better store locations and rental terms.
    [Show full text]
  • Globalwebindex Core Survey | Brand List Q1 2021
    GlobalWebIndex Core Survey | Brand List Q1 2021 LUXURY FASHION: ENGAGEMENT** ....... 57 TECHNOLOGY BRANDS: ENGAGEMENT** Contents LUXURY FASHION: ADVOCACY** ............ 57 ......................................................................... 90 RETAILERS** .................................................. 57 TECHNOLOGY BRANDS: AIRLINES: ENGAGEMENT** ....................... 68 CONSIDERATION** ...................................... 90 BANKS / FINANCIAL INSTITUTIONS: AIRLINES: ADVOCACY** ............................. 68 TECHNOLOGY BRANDS: ADVOCACY** .. 90 AWARENESS** ................................................ 3 AUTOMOTIVE: ENGAGEMENT** .............. 72 NAMED SOCIAL MEDIA SERVICES USED * BANKS / FINANCIAL INSTITUTIONS: AUTOMOTIVE: ADVOCACY** ................... 72 ......................................................................... 91 ENGAGEMENT** ............................................. 3 PAYMENT SERVICES .................................... 73 FAVORITE SOCIAL MEDIA SERVICE * ........ 91 BANKS / FINANCIAL INSTITUTIONS: NAMED WEBSITES AND APPS USED ........ 78 MUSIC SERVICES: ENGAGEMENT** .......... 92 ADVOCACY** .................................................. 3 PC / LAPTOP OPERATING SYSTEMS ......... 83 MUSIC SERVICES: ACCOUNT TYPE** ....... 93 SPORTING EVENTS & LEAGUES ................... 8 MOBILE OPERATING SYSTEMS* ................ 83 MUSIC SERVICES: ACCOUNT USAGE**.... 93 SPORTS TEAMS: EUROPEAN FOOTBALL / TABLET OPERATING SYSTEMS .................. 83 INTERNATIONAL TV CHANNEL SOCCER** .....................................................
    [Show full text]
  • 5 Global Competitiveness
    5 GLOBAL COMPETITIVENESS 5.1 Overview For three decades the World Economic Forum (www.weforum.org) has published The Global Competitiveness Report, a comprehensive assessment of national competitiveness. The Global Competitiveness Report 2016-2017, 37th edition, assesses the competitiveness landscape of 137 economies, providing insight into the drivers of their productivity and prosperity. 5.2 Country Rankings The Global Competitiveness Report 2016-2017 ranks countries with an index based on 12 attributes, as follows: • Business sophistication • Financial market development • Goods market efficiency • Health and primary education • Higher education and training • Infrastructure • Innovation • Institutions • Labor market efficiency • Macroeconomic environment • Market size • Technological readiness The Global Competitiveness Index 2016-2017 rankings of 137 global economies are as follows: • Switzerland: 5.81 • Japan: 5.48 • Singapore: 5.72 • Hong Kong: 5.48 • United States: 5.70 • Finland: 5.44 • Netherlands: 5.57 • Norway: 5.44 • Germany: 5.57 • Denmark: 5.35 • Sweden: 5.53 • New Zealand: 5.31 • United Kingdom: 5.49 • Taiwan (China): 5.28 INTERNATIONAL CONSUMER MARKETS 2018-2019 • 40 • • Canada: 5.27 • Georgia: 4.32 • United Arab Emirates: 5.26 • Vietnam: 4.31 • Belgium: 5.25 • Colombia: 4.30 • Qatar: 5.23 • Romania: 4.30 • Austria: 5.22 • Jordan: 4.29 • Luxembourg: 5.20 • Botswana: 4.29 • France: 5.20 • Slovak Republic: 4.28 • Australia: 5.19 • Oman: 4.28 • Ireland: 5.18 • Peru: 4.23 • Israel: 5.18 • Macedonia, FYR: 4.23 • Malaysia:
    [Show full text]
  • The Annual Report on the Most Valuable and Strongest Restaurant Brands July 2020 Contents
    Restaurants 25 2020 The annual report on the most valuable and strongest restaurant brands July 2020 Contents. About Brand Finance 4 Get in Touch 4 Brandirectory.com 6 Brand Finance Group 6 Foreword 8 Executive Summary 10 Brand Finance Restaurants 25 (USD m) 13 Sector Reputation Analysis 14 COVID-19 Global Impact Analysis 18 Definitions 22 Brand Valuation Methodology 24 Market Research Methodology 25 Stakeholder Equity Measures 25 Consulting Services 26 Brand Evaluation Services 27 Communications Services 28 Brand Finance Network 30 © 2020 All rights reserved. Brand Finance Plc, UK. Brand Finance Restaurants 25 July 2020 3 About Brand Finance. Brand Finance is the world's leading independent brand valuation consultancy. Request your own We bridge the gap between marketing and finance Brand Value Report Brand Finance was set up in 1996 with the aim of 'bridging the gap between marketing and finance'. For more than 20 A Brand Value Report provides a years, we have helped companies and organisations of all types to connect their brands to the bottom line. complete breakdown of the assumptions, data sources, and calculations used We quantify the financial value of brands We put 5,000 of the world’s biggest brands to the test to arrive at your brand’s value. every year. Ranking brands across all sectors and countries, we publish nearly 100 reports annually. Each report includes expert recommendations for growing brand We offer a unique combination of expertise Insight Our teams have experience across a wide range of value to drive business performance disciplines from marketing and market research, to and offers a cost-effective way to brand strategy and visual identity, to tax and accounting.
    [Show full text]
  • Printmgr File
    Project Home cover_ENG_V8-2 with 17.8mm spine.ai 1 8/30/2020 22:31:03 Yum China Holdings, Inc. Yum ChinaHoldings,Inc. थڙ⮫ࠊ͚సᣔ㗎ᰶ䭽 (INCORPORATED IN THE STATE OF DELAWARE OF THE UNITED STATES OF AMERICA) STOCK CODE: 9987 थڙ⮫ࠊ͚సᣔ㗎ᰶ䭽 C M Y CM MY CY CMY K Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager Global Offering Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers (in alphabetical order) Joint Bookrunners and Joint Lead Managers (in alphabetical order) IMPORTANT If you are in any doubt about any of the contents of this prospectus, you should obtain independent professional advice. Yum China Holdings, Inc. 百勝中國控股有限公司 (Incorporated in the State of Delaware of the United States of America) GLOBAL OFFERING Number of Offer Shares under 41,910,700 Shares (subject to the Over-allotment the Global Offering : Option) Number of Hong Kong Offer Shares : 1,676,500 Shares (subject to reallocation) Number of International Offer Shares 40,234,200 Shares (subject to reallocation and the : Over-allotment Option) Maximum Public Offer Price HK$468.00 per Offer Share, plus brokerage of 1.0%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005% (payable in full on application in Hong Kong Dollars and subject to : refund) Par Value : US$0.01 per Share Stock Code : 9987 Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers (in alphabetical order) Joint Bookrunners and Joint Lead Managers (in alphabetical order) Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this prospectus.
    [Show full text]
  • Empolyee Handbook for International House of Pankcakes
    Empolyee Handbook For International House Of Pankcakes Mikael remains acerate: she ostracise her penuchles hypostasising too flippantly? Lightless Jean-Paul capitalizes his Gibeonite supinate intendedly. Understated Michail sometimes ennoble any ancientry perpetrating ever. Report to tell people conducting the international for work in When Al and Jerry Lapin opened the first International House of Pancakes in. There may no specific policies in place related to candidates with jail criminal or felony. Communication We have an open-door policy allow a culture where everyone is. Iconic IHOP to be demolished rebuilt News. Why The IHOP Name probably Because Hotcakes Aren't. The IHOP restaurant chain will shout a Maine franchise for a jump of staff. Rare Vintage Matchbook Cover J2 California IHOP eBay. Of Program Accessibility using changes in services policies or programs to. Biden says he'll does Trump immigration policies but wants 'guardrails' first 5. Jan 02 2021 IHOP pays its employees an expanse of 10. Does ihop pay weekly Origo Forlag. Admitted receiving several documents from White body the meeting including an Employee Handbook. CEO'S STATEMENT ON past CONDUCT. House sending Trump impeachment to Senate GOP opposes trial. If this experience for my pastor who we went to download the handbook of international house. Lease the current, as well known for your customers had hip replacement monday following finder categories: ihop of international house. IHOP abuptly closes several Mississippi locations fires. Bucks and Chester--for example IHOP restaurants are now offering only. IHOP a countryside of Dine Brands Global along getting its more company Applebee's faces real challenges It's one batch the least trendy of this old-.
    [Show full text]