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

1. What does "consortium of independent microbreweries in each region" mean in simple terms? Is this a negative or positive factor when it comes to investing?

2. Is it a positive or negative thing that this company has 30 independent breweries shareholders?

3. Overall is this company good for strategic benefits and synergies?

Please base your answer off a merger and acqusition perspective.