RUAG International has concluded an agreement on the sale of its Ammotec business unit to the Beretta Holding. As envisaged by the Swiss Federal Council, the Ammotec division will be divested – with site assurance for Thun and transfer of all employees. The closing of the transaction is subject to regulatory approvals. The parties have agreed not to disclose any financial terms. As envisaged by the Swiss Federal Council in its divestment strategy, RUAG International’s small-caliber ammunition business will be sold. The decision was made in favor of the Beretta Holding, taking into account all conditions made by the Swiss Federal Council. The Beretta Holding will take over all 2,700 employees at all production and sales sites. The Beretta Holding has committed itself to maintaining the Thun site with around 400 jobs for at least five years.
Pietro Gussalli Beretta, President and CEO of Beretta Holding emphasizes that there is an excellent cultural and strategic fit: “We have the firearms and the optics, RUAG Ammotec high quality ammunition, there is almost no overlap. This is a special moment in the history of our group. We welcome RUAG Ammotec’s employees and we want to grow together.”
For RUAG International, the sales agreement once again confirms its strategy of evolving from a state-owned enterprise into an agile technology provider with a focus on space. André Wall, CEO of RUAG International, says: “We are taking the next step to withdraw from the defense-related business completely. We are pleased to have found a renowned industrial partner for Ammotec in Beretta, who will take over all employees and the Thun site. With its industry experience and global presence, Beretta offers the best conditions to sustainably grow Ammotec’s business activities for the benefit of customers and employees.”
RUAG Ammotec is a leading European supplier of small-caliber ammunition. Ammotec generates around two-thirds of its total sales in the civil sector – with hunting and sporting ammunition or components for industry. Ammotec also supplies small-caliber ammunition for defense and law enforcement. In the parliamentary process, the sale of Ammotec had been confirmed in autumn 2021, as stipulated by the Swss Federal Council. On land RUAG International is involved in designing and running virtual, live and constructive simulations. The company are also a market leader in small-calibre ammunition, pyrotechnic elements and components for the Hunting & Sports and Defence & Law Enforcement business areas as well as the construction industry.
Fabbrica d’Armi Pietro Beretta (Pietro Beretta Weapon Factory) is a privately held Italian firearms manufacturing company operating in several countries. Its firearms are used worldwide for a variety of civilian, law enforcement, and military purposes. Sporting arms account for three-quarters of sales; Beretta is also known for marketing shooting clothes and accessories. Founded in the 16th century, Beretta is the oldest active manufacturer of firearm components in the world. In 1526 its inaugural product was arquebus barrels; by all accounts Beretta-made barrels equipped the Venetian fleet at the Battle of Lepanto in 1571. Beretta has supplied weapons for every major European war since 1650. Beretta acquired several domestic competitors (notably Benelli and Franchi) and some foreign companies (notably in Finland) in the late 1980s. With the acquisition, the Beretta Holding Group will grow to more than 6,000 employees with more than 50 subsidiaries worldwide. The turnover will reach nearly 1.4 billion euros.
