(ANSA) - MILAN, 09 MAR - The arms manufacturer BerettaHolding has signed a binding agreement for the acquisition of 100% of Ruag Ammotec "the main European group for the production and distribution of light ammunition - reads a note -, owner of brands prestigious such as RWS, Norma, Rottweil, Geco ".
Thanks to the acquisition, the Brescia group, assisted by Bnp Paribas and Mediobanca, in fact doubles its size, reaching over 6,000 employees and reaching an aggregate turnover of approximately 1.5 billion euros.
With the addition of five production sites and a total of 16 new companies operating in 12 different countries, the Beretta Holding Group, which in 2020 had a turnover of just over 800 million euros, will be able to count on a total of over 50 subsidiaries operating all over the world.
Under the new ownership RuagAmmotec has confirmed its commitment to supplying high quality ammunition to the Swiss and German military.
Furthermore, as requested by the Swiss government, Beretta will fully support and maintain the existing production sites.
The Brescia multinational, which with Ruag has started the procedures to obtain mandatory government approvals, expects to take full ownership of the Swiss group within the next six months.
"This is a very special moment in the history of our group. After working almost three years on this project, we warmly welcome the more than 2,700 employees of Ruag to our group," said Pietro Gussalli Beretta, president and CEO of Beretta Holding, underlining the " perfect complementarity "of the two groups.
"We have the firearms and the optics, Ruag Ammotec has the ammunition, practically no overlap. We also see important synergies in distribution and research & development, especially over the long term, which is what interests us most. Having RUAGAmmotec within the Beretta Group Holding will strengthen our presence in Europe, further accentuating our international propensity ".
(HANDLE).