Fiocchi Munizioni purchased by Czechoslovak Group
The Prague-based CSG - Czechoslovak Group announces the acquisition of a majority stake in Fiocchi Munizioni: another sizable chunk of the Italian gun industry is sold abroad!
On Thursday, November 24, the CSG - Czechoslovak Group A.S. group – a major player in the global defense sector – announced the acquisition of a 70% majority stake in Fiocchi Munizioni, the oldest ammunition manufacturer in Italy, active in the city of Lecco since 1878 and today a global leader in hunting, sport shooting, defensive, duty and military ammunition.
The remaining 30% of the Fiocchi Munizioni stakes will be held by current shareholders – the Fiocchi family and the Charme Capital Partners SGR S.p.A. management company – with which CSG will partner to pursue the continued growth path envisaged for Fiocchi Munizioni over the coming years.
Fiocchi Munizioni is one of the very little players in the global ammunition industry to operate three vertically-integrated manufacturing facilities in Italy, the UK, and the US
From left: David Stepan, Michele Preda, Stefano Fiocchi, Tommaso Beolchini, Petr Formanek and Maurizio Negro
CSG – based in Prague, Czech Republic, and controlled and led by Michal Strnad – is the most relevant Czech industrial group active in five strategic business segments, aerospace, defense, automotive, railways and business projects. CSG employs more than 8.000 people worldwide, and over the years, it has entered various strategic partnerships with top-tier multinational companies including General Dynamics, Siemens, Stadler, Raytheon, Lockheed Martin, Boeing, Airbus, Nexter Systems and Rheinmetall.
Fiocchi Munizioni is expected to record consolidated revenues exceeding 380 million Euro in 2022 and employs more than 1.300 people worldwide. CSG is strongly committed to the continued growth of Fiocchi Munizioni over the coming years, with further international development supported by new investments in all the current factories that will also drive new hirings.
«This transaction marks a major milestone for the entire CSG, as the investment in Fiocchi is the largest financial investment in the history of our group,» said CSG chairman Michal Strnad.
«Today we become the majority shareholder and partner of a global leader in the field of small-caliber ammunition, with a solid presence in NATO countries. Fiocchi Munizioni, like CSG, has been built by several generations of the Fiocchi family. We consider the Fiocchi family's commitment to the management and development of the company to be a strong asset and we want to further develop the company in close partnership with them. We also deeply appreciate and respect what Charme Capital Partners has been able to achieve over the last five years, and we will treasure its precious legacy going forward thanks to its reinvestment as a minority shareholder.»
«Our family has supported Fiocchi Munizioni since 1876, when it was founded by my ancestor Giulio Fiocchi,» said Stefano Fiocchi, Chairman of Fiocchi Munizioni and representative of the Fiocchi family.
«A few years ago, we decided to open our family business with a new partnership with Charme Capital Partners to foster Fiocchi Munizioni’s growth, implement a modern managerial approach and eventually strengthen our leadership position globally. We are grateful to Charme Capital Partners for the success that we have built together. Today we welcome a new strategic partner that will be able to guide Fiocchi Munizioni to new achievements. I believe that my family and Michal Strnad share a similar entrepreneurial culture and a true desire to grow the business of Fiocchi Munizioni and CSG. We are looking forward to the future together with the CSG.»