Be Shaping The Future S.p.A. (BIT:BEST) entered into an agreement to acquire 85.7% stake in Firstwaters GmbH for an enterprise value of €10.2 million on January 14, 2021. The acquisition will be on a cash basis. Post completion, Be Shaping The Future S.p.A. will hold 85.7% stake and Marco Fäth and Martin Peter hold remaining shares of Firstwaters. Be Shaping The Future S.p.A. will then complete the acquisition of the remaining shares at the end of Fiscal Year 2024. The consideration will be partly funded by a credit line from a primary banking institution. For year ended December 31, 2020, The Firstwaters had total revenue and EBIT as €11.7 million and €12.6 million respectively. Firstwaters has a great potential for interaction and synergy with all other Group entities. BE is happy to welcome the whole Firstwaters team. With Marco Fäth, Martin Peter and Swati Buderbach, the three managing directors, who are ready to do a great job to strengthen our market leadership.