Its completion is subject to the approval of Vista Outdoor’s shareholders and regulators in the US and other national markets where both companies operate. This should happen during the next year.
“The transaction fulfills our strategy to expand in the key pillars of CSG’s business, which includes ammunition production,” commented Strnad, adding that this is historically the most significant Czech investment on the American market.
“Thanks to this acquisition, we will become one of the most important manufacturers of ammunition in the world with a comprehensive portfolio of all calibers,” added David Štěpán, member of the CSG board of directors and investment director for foreign projects.
At the same time, this is another deal of a similar size, which the holding CSG implemented. At the end of last year, he bought a majority stake in the Italian company Fiocchi, which is one of the world’s largest producers of small-caliber ammunition.
“The price of the transaction was not disclosed by the parties, but it is the largest financial investment in the history of the CSG holding and also in the history of the Czech defense industry,” CSG spokesman Andrej Čírtek commented to Novinky at the time.
At the same time, this is not the first venture of Czech armorers on the American market. The year before last, CZG – Česká zbrojovka Group SE bought the legendary arms manufacturer Colt. Last year, it was renamed Colt CZ Group SE.
Strnad’s CSG holding includes, for example, the car manufacturer Tatra Trucks, the small-caliber ammunition manufacturer Fiocchi and the radar manufacturer Retia.
It employs more than 8,000 employees either by itself or through connected companies. In 2022, the holding’s consolidated sales reached 25 billion crowns.
Strnad bought Italy’s largest munitions factory
2023-10-16 13:29:39
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