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Czech CSG takes over Italian shotgun maker Armi Perazzi

Reuters
·1-min read

PRAGUE (Reuters) - Czech defence and industrial company Czechoslovak Group has agreed to acquire an 80% stake in Italian high-end sporting and hunting shotgun maker Armi Perazzi, CSG said on Friday.

CSG, owned by entrepreneur Michal Strnad, has seen rapid expansion thanks in part to sharp increase of supplies of equipment and ammunition to Ukraine as well as acquisitions.

Perazzi, which makes guns for top sport shooters and hunters, is based in Botticino in the northern region of Lombardy. The founding family retains the remaining 20% stake.

Last year, CSG acquired a majority stake in another Italian firm, Fiocchi Munizioni, the manufacturer of small-caliber ammunition.

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In October, CSG agreed to take over U.S. firm Vista Outdoor's sporting products unit, including its ammunitions business, in a $1.91 billion deal expected to close next year.

(Reporting by Jan Lopatka, editing by Jason Hovet)