Italy’s Fiocchi Munizioni, which includes Fiocchi of America, has sold a 70% majority stake to the Czechoslovak Group (CSG). The remaining 30% will be retained by the Fiocchi family and Charme Capital Partners, which acquired a stake in 2017. The two minority shareholders will focus on the company’s continuity toward continued growth.
Fiocchi was founded in 1876 in Lecco, Italy by Giulio Fiocchi. Giulio’s descendants have operated the company ever since. The company designs and manufactures small-caliber ammunition for the sporting, hunting, and law enforcement markets. Fiocchi Munizioni also includes the Baschieri & Pellagri and Lyalvale global brands. Fiocchi of America has operated from Ozark, Missouri since 1983. Fiocchi Munizioni’s consolidated revenues are expected to exceed $397 million in 2022.
The Czechoslovak Group and Fiocchi
The CSG is based in Prague, Czech Republic. It is an industrial group dealing in the aerospace, defense, automotive, and railroad industries, as well as general business. Like Fiocchi, CSG began as a family business. It is completely owned by Michal Strnad, who also serves as Chairman. This transaction is the single largest financial investment in the company’s history.
Strnad said that “We consider the Fiocchi family’s 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.”
Fiocchi Munizioni CEO Maurizio Negro commented that the partnership between the Fiocchi family and Charme Capital Partners drove outstanding growth and expansion, leading to the CSG investment. He also credited the company’s employees, noting that “This was also made possible thanks to all the people that work for Fiocchi Munizioni and share a true passion for what we do every day.” Negro continued, saying that “We are now pleased to become part of CSG, with whom we share a deep industrial and international culture. I am sure that this new chapter in Fiocchi Munizioni’s history will be marked by continued solid growth and by a further strengthening of our leadership position worldwide.”
Fiocchi of America
Forty years after establishing itself in the United States, Fiocchi of America is a standalone branch of the global brand. Fiocchi of America offers a full ammunition line, including shotgun shells, centerfire rifle and pistol ammunition, match and standard grade rimfire .22 Long Rifle, specialty and classic cartridges, reloading components, and blanks. The company just announced that it will open a new primer manufacturing facility in Little Rock, Arkansas.
The partnership with CSG is expected to strengthen Fiocchi’s brand presence, offering more alternatives to American shooters, hunters, and law enforcement agencies.