Strategic Acquisition and Expansion Plans Propel NewPrinces S.p.A. to a Buy RatingWe incorporate ’s acquisition in our forecasts. The transaction marks the entry into high-potential beverage categories at an interesting valuation and with an improving impact on leverage. We expect the company to provide updated targets once Plasmon acquisitions are completed too. Reinforcing the presence in high-potential beverage categories NewPrinces has completed the acquisition of 100% of SpA (renamed an EV of EUR 100M, implying EV/EBITDA transaction multiple of ~4.9x. With a net cash position of EUR 107M, the deal improves NewPrinces’ net financial position by c. EUR 7M, based on the company’s data.