US gunmaker Ruger accuses Italian rival Beretta of – Business News
America’s largest gunmaker, Sturm Ruger & Co., accused the guardian company of Italian arms firm Beretta of attempting to stealthily seize control of the Connecticut-based business by “self-serving demands” resembling cut-price stock buys and veto-like board energy.
The Todd W. Seyfert-led giant hit back on Monday on the historic firm’s proxy struggle, which was first reported by The Post on Feb. 25, that branded the transfer as a thinly-veiled risk to launch “a war” and full a full takeover.
A proxy struggle is an unfriendly contest for control of a company through which a group of shareholders tries to persuade different buyers to vote out the present board of administrators or management.
Ruger, a main US maker of pistols, rifles, and revolvers together with the enduring 10/22 rifle, has been grappling with a post-pandemic gross sales hunch. AFP by way of Getty Images
Ruger claimed Beretta quietly constructed a giant stake, refused to halt purchases during negotiations and sought perks that would break US antitrust legal guidelines that stop corporations from unfairly dominating markets.
Executives from each companies lastly agreed to fulfill in December, the US company mentioned in a release that it described as an attempt “to set the record straight.”
“At that meeting, Beretta’s chair indicated a long-term plan to combine Ruger with Beretta but made no formal proposal,” Ruger mentioned in a assertion issued by way of a spokesperson.
“Beretta’s chair also indicated that he had no interest in the status quo and that he would find a way to increase his position if Ruger remained resistant,” the company added .
The 500-year-old company, with ties to the Italian Alpine area of Lombardy the place gun rights are far weaker than within the United States, has slowly constructed a close to 10% stake in Ruger.
Ruger responded in October with a so-called “poison pill” protection. It is a tactic utilized by takeover targets that floods the market with new shares to make a takeover costlier and dilute the customer’s energy. Bloomberg by way of Getty Images
Beretta introduced plans two weeks in the past to appoint 4 new members to take a seat on Ruger’s nine-member board after the publication of The Post’s unique story.
The names are William Franklin Detwiler of Fernbrook Capital, Mark DeYoung, the ex-Vista Outdoor CEO, Frederick Disanto of Ancora Holdings and Michael Christodolou of Inwood Capital.
Reps for Beretta, whose guardian is predicated within the tax haven nation of Luxembourg, claimed final month that the 500-year-old firm “is not seeking control of the Ruger board.”
The company’s New York-based spokespeople didn’t reply to a request for remark earlier on Monday.
The feud traces back to Sept. 22, 2025, when Beretta filed a Schedule 13D, a required SEC disclosure for proudly owning 5% or more of a public company’s stock, which revealed a 7.7% stake.
Beretta is a 500-year-old firm with ties to Italy’s Alpine area. This pistol, a 92S semi-automatic, is on show at its musuem within the city of Gardone Val Trompia. AFP by way of Getty Images
Beretta later upped it to about 10%, prompting Ruger to reply in October with a so-called “poison pill” protection.
It is a tactic utilized by takeover targets that floods the market with new shares to make a takeover costlier and dilute the customer’s energy
Ruger, a main US maker of pistols, rifles, and revolvers together with the enduring 10/22 rifle, has been grappling with a post-pandemic gross sales hunch casuing the price of shares to tank by over 40% in 5 years, leaving it with a market cap at $581 million.
Beretta, a 500-year-old powerhouse with $1.7 billion in 2024 income, might probably search for synergies to cut prices and increase profitability.
In its October stake disclosure, it signaled its curiosity in “operational and strategic collaborations” between the 2 rivals.
The arms giant, which has equipped Venezuela’s navy and national guard with weapons previously, has long been searching for to additional increase its presence within the United States the place it already owns Maryland-based producer Stoeger.
