Strnad bought Italy’s largest munitions factory

Today, the representatives of the companies signed an agreement, thanks to which CSG became the owner of a 70 percent stake in the Italian company Fiocchi Munizioni. He bought the stake from the investment group Charme Capital Partners. Both the Fiocchi family and Charme Capital Partners remain minority shareholders in the company.

“The parties did not disclose the price of the transaction, 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 told Práv.

So far, the largest Czech arms transaction was the purchase of the American manufacturer Colt, which was implemented by Česká zbrojovka for CZK 4.7 billion, so it can be assumed that the current deal exceeds the amount of CZK five billion.

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According to Čírtek, this is leapfrog growth for the Czech company. “Fiocchi Munizioni’s sales reach over 380 million euros, which is about 9.1 billion crowns. For comparison, CSG’s sales in 2021 reached 14.5 billion crowns,” added the spokesperson.

Fiocchi Munizioni, founded as early as 1876, has production facilities not only in Italy, but also in Great Britain and the USA. It has two manufacturing facilities in the United States: one in Little Rock, Arkansas, and the other in Ozark, Missouri. Its portfolio includes other brands: Baschieri & Pellagri and Lyalvale Express. The Fiocchi Group mainly produces small-caliber ammunition for sports shooting and hunting, and to a lesser extent also for security forces.

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Michal Strnad stated that this is a major milestone for CSG in their business. He appreciates that Fiocchi is a family company like CSG, which was founded by his father Jaroslav in 2014. “We consider the involvement of the Fiocchi family in the management and development of the company to be a strong asset. We want to develop the company in close partnership with the family of the founders,” said Strnad. According to CSG, the Italian company will become the basis of a new division of the holding focused on small caliber ammunition, which will be called CSG Ammo+.

The chairman of the board and descendant of the founders, Stefano Fiocchi, also welcomes the fact that their company has come into the hands of a strong family company. “I believe that my family and Michal Strnad share a similar entrepreneurial culture and a real desire to grow the business of Fiocchi Munizioni and CSG,” said Fiocchi.

Thanks to this purchase, the Czechia became one of the leading countries producing small caliber ammunition. The traditional company Sellier & Bellot, which is a subsidiary of the Brazilian company CBC, also produces small caliber ammunition in Vlašim.

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