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Hillhouse Capital invested in mainland laundry liquid sibling Blue Moon. According to the news, Blue Moon has completed Pre-Deal Investor Education and expects to raise $ 1 billion (about 78 billion Hong Kong dollars). Bank of America, CICC and Citigroup are the joint sponsors of Blue Moon.
Blue Moon Business Chart
UBS, one of the underwriters, valued Blue Moon at 78 to 93.6 billion yuan. The report believes that the downside risk is the risk of industry competition and the inability to pass on the increase in commodities in 2021. The report pointed out that the company’s investments in offline marketing and the increase in staff of sale will increase upside risks.
The bank expects Blue Moon’s revenue to grow 14%, 29%, and 19% year-over-year from 2020 to 2022, mainly due to the company’s further penetration into lower tier cities and rapid growth in personal hygiene. and home care products.
Blue Moon was founded in 1992 as a well-known laundry detergent brand on the mainland. According to the Frost & Sullivan report, the Group has been # 1 in the Chinese laundry detergent market for 10 consecutive years since 2011. As of last year, net profit increased 95% year-on-year to 1.08 billion. yuan; revenues increased 4.2% year-on-year to 7.05 billion yuan.
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Blue Moon currently mainly produces laundry detergents, hand sanitizers and sanitary cleaners. At the end of 2019, in terms of retail sales, Blue Moon holds the largest market share in the laundry detergent market, the concentrated laundry detergent market and the hand sanitizer market respectively. 24.4%, 27.9% and 17.4%.
29% of the group’s fundraising proceeds are used for business expansion, 42.8% for brand awareness, product penetration and strengthening of sales and distribution networks, 10.3% for working capital and other general business purposes, 9.5% to enhance the company’s research and development capabilities, 8.3% for the development and strengthening of information technology capabilities.
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Responsible editor: Xie Zhuorong
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