Beretta Holding acquires RUAG Ammotec
Beretta Holding and the Swiss State-owned RUAG group announced today a binding agreement by which Beretta will take control of the totality of shares of RUAG Ammotec GmbH – the German-based small arms and civilian ammunition branch of the RUAG Group. The deal is expected to boost the Beretta Holding's revenue by 1.5bn €, and their number of employees to pass 6.000
Beretta Holding – the parent company of well-known Italian firearms manufacturers such as Beretta, Benelli and Franchi, as well as other international brands – announced today to have signed a binding agreement to acquire 100% of shares of RUAG Ammotec GmbH, Europe's bigger manufacturer of small arms ammunition and well known worldwide for its controlled brands such as GECO, RWS, Rottweil, and Norma.
Backed by two major Italian and French banks – Mediobanca and BNP Paribas, respectively – the Beretta Holding struck a deal that will lead the company to double its dimensions, reaching well over 6000 employees and an aggregate revenue of approximately 1,5 billion Euro.
The acquisition of RUAG Ammotec will allow Beretta to take charge of five new manufacturing plants and sixteen new controlled companies in twelve different Countries; the Beretta Holding – whose revenue reached approximately 800 million Euro – will now have in excess of fifty controlled companies and entities worldwide
Despite the change of property, RUAG Ammotec announced that they will remain committed to supply the German and Swiss Armed Forces with high-quality ammunition. Furthermore, as requested by the Swiss government, Beretta will continue to operate, maintain, and support the existing RUAG Ammotec plants.
Beretta Holding and RUAG have been working to obtain the necessary government clearances for the acquisition; Beretta is now expected to acquire total control of RUAG Ammotec within six months.
«This is a very special moment for the history of our group. After dedicating three years of hard work to this project, I'm glad to warmly welcome well over 2700 employees of RUAG Ammotec in our Holding», said Pietro Gussalli Beretta, President and CEO of the Beretta Holding, who stressed how the two groups are "perfectly complementary".
«We have firearms and optics, RUAG Ammotec has ammunition, there's no overlapping. We see important synergies ahead in terms of distribution and R&D, particularly for long-term projects, which is what we are interested in the most. Having RUAG Ammotec as part of the Beretta Holding will strenghten our position in Europe and further emphasize our inclination towards the international markets.»
Currently headquartered in Fürth (Germany), RUAG Ammotec GmbH is the biggest manufacturer of small arms ammunition for civilian, law enforcement, and military uses. RUAG Ammotec GmbH is the main supplier of ammunition for the German and Swiss Armed Forces, and operates on the global civilian market through well known brands such as Norma, GECO, RWS, Rottweil, and Gyttorp AB.
RUAG Ammotec distributes its civilian and MIL/LE/Govt. oriented products worldwide. Additionally, RUAG Ammotec is the main distributor for the firearms manufactured by brands such as C.G. Haenel and HS Produkt in numerous Countries.