Czechoslovak Group Acquires Majority Stake in Fiocchi Munizioni
Czechoslovak GroupĀ (CSG) acquired a 70-percent stake in Fiocchi Munizioni, the manufacturer of small-caliber ammunition, late in November. It is the single largest foreign investment in the history of the Czech defense industry. CSG is partnering with the current shareholders, the Fiocchi family and Charme Capital Partners, with each retaining a minority stake to ensure a seamless transition and continued growth.
āThis 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,ā said Michal Strnad, CSG Chairman. āToday 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 familyās 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.ā
CSG, based in Prague, Czech Republic, is an industrial group active in five business segmentsāaerospace, defense, automotive, railways and business projects, where it operates at a global level. The company owns and manages a portfolio of industrial and trade companies across the civil and defense sectors and employs more than 8,000 people worldwide. Over the years CSG has entered strategic partnerships with European- and United States-based multinational companies including General Dynamics, Siemens, Stadler, Raytheon, Lockheed Martin, Boeing, Airbus, Nexter Systems, and Rheinmetall.
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Founded in 1876 in Lecco, Italy, Fiocchi Munizioni designs, manufactures and sells small-caliber ammunition for shooting sports, hunting and law enforcement, under the Fiocchi, Baschieri & Pellagri and Lyalvale brands. Fiocchi Munizioni has three vertically integrated industrial and commercial platforms in Italy, the U.S.āwhereĀ Fiocchi of AmericaĀ has been present for more than 40 years and is based in Ozark, MOāand the United Kingdom.
Article by GUY J. SAGI
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