Charme set to buy Fiocchi Munizioni

According to public documents, the Italian government gave the green light for the GP's acquisition of the asset, which it deemed strategic for the national interest. At the time of publication, the parties involved in the transaction were yet to reach a final agreement, however the founding Fiocchi family is expected to retain a minority stake in the business.

According to local press reports, the Fiocchi family intends to ultimately float the business. The company's chair Stefano Fiocchi aimed to find a majority shareholder that could allow the business to overcome its fragmented shareholder base and drive consolidation across the market, prior to the launch on the stock exchange.

Founded in 1876, Fiocchi Munizioni produces ammunition. The business focuses on hunting and sports, but its clients also include the Italian army and police force. According to press reports, the business generates 80% of its sales abroad.

Currently, Fiocchi employs 670 people and reportedly posted €139.5m in revenues in 2016 with a €19.9m EBITDA.

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• Topics
• Buyouts
• Industrials
• Southern Europe
• Italy