Fiocchi Ammunition up for sale?

Fiocchi Ammunition up for sale?

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Fiocchi Ammunition up for sale?

According to LeccoNotice.com the historical Italian company Fiocchi Munizion S.p.A. might be up for sale.

Fiocchi Ammunition employees 670 people and reached about 150 million Euros in revenues in 2016, a rise from 135 millions in 2015. The positive net finance position was 5 millions, from 3 millions in 2015.

The buyers are likely to be Charme Capital Partners sgr, a private equity firm partly owned by the Montezemolo family.

Due to the nature of Fiocchi’s business the company is considered to be of strategic value to the state, but the Italian Government has officially stated that they will not use their “Golden Rule” to acquire the company. (Source, in Italian) This is an important “go ahead” for the deal to happen.

According to the newspaper Il Giorno Fiocchi’s chairman Mr. Stefano Fiocchi said that  “The deal is still ongoing and this won’t mean that the Fiocchi family is going to leave the company, as the family holding company is going to keep a significant stake in the capital”.

Apparently the aim is to list the company on the Stock Exchange. At the moment the ownership of Fiocchi is spread out over almost 50 shareholders, so I don’t expect anything but a lot of discussions and arguments are going on in Italian.

You can find Fiocchi Ammunition’s homepage here.

Hunting

via The Firearm Blog http://ift.tt/ywCWoj

October 30, 2017 at 05:00AM

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