Czechoslovak Group (CSG) announces the acquisition of 70% of Fiocchi Munizioni, global leader in the premium and super premium segments of small caliber ammunition. CSG will collaborate with the current shareholders, the Fiocchi family and Charme Capital Partners, who will remain with a minority stake, with the aim of consolidating the growth path envisaged for Fiocchi Munizioni in the coming years.
Founded in 1876 in Lecco (Italy)Fiocchi Munizioni develops, manufactures and distributes small-caliber ammunition in the premium and super premium segment for shooting, hunting, defense and law enforcement through the Fiocchi, Baschieri & Pellagri and Lyalvale Express brands. Fiocchi Munizioni is among the few global players that can count on three vertically integrated production centers in Italy, in the United States (where Fiocchi has been present for over 40 years) and in England. The Fiocchi Group has a wide range of technological processes and patented products such as primers, the result of a continuous internal innovation process. With over 1.300 employees located on three continents, in 2022 Fiocchi Munizioni aims to record a turnover of €380 million.
CSG, headquartered in Prague (Czech Republic), is an industrial group active globally in 5 strategic business segments: aerospace, defence, transport, railway sector and development projects. CSG is 100% controlled and managed by Michal Strnad, an entrepreneur who has been able to transform CSG into the most important industrial group in the Czech Republic with a strong international footprint. CSG employs more than 8.000 people worldwide and owns a portfolio of industrial companies engaged in the civil and defense sectors. Over the years, CSG has established numerous strategic alliances with top-level European and American multinationals, including General Dynamics, Siemens, Stadler, Raytheon, Lockheed Martin, Boeing, Airbus, NexterSystems and Rheinmetall.
The operation provides for the acquisition by CSG of 70% of Fiocchi Munizioni, in partnership with the Fiocchi family and Charme Capital Partners who will keep the remaining 30% to ensure continuity both in the 146-year tradition of the Company and in the recent managerial organization developed after the acquisition of Charme Capital Partners at the end of 2017. CSG is strongly motivated to continue the growth process of Fiocchi Munizioni in the coming years also thanks to further international development supported by new investments in all the production plants, with a benefit on new jobs.
Michal Strnad, Chairman of CSG, explains: “This operation marks an important milestone for CSG, considering that the investment in Fiocchi represents the most important financial investment in the history of the Group. Today we become the majority shareholder but above all a partner of a world leading group in the production of small caliber ammunition, with a solid presence in the countries NATO. Fiocchi Munizioni, just like CSG, was built by several generations of the Fiocchi family. We consider the commitment of the Fiocchi family in the management and development of the company to be a fundamental asset and we want to continue to grow the company in complete synergy. We also deeply appreciate and respect what Charme Capital Partners has managed to achieve over the past five years, and we will continue to enhance its valuable legacy through its role as a minority shareholder”.
Petr Formánek, Member of the Board of Directors of CSG and Head of M&A, he said: “Joining forces with Fiocchi is the result of CSG's long-term strategy. We are interested in acquiring international companies with a strong presence in Western Europe and the United States, with a solid market position, and operating within our Group's industries”.
“This acquisition forms the foundation of a new division of CSG that will be focused on small caliber ammunition that we have named Ammo+,” adds David Štěpán, Member of the Board of Directors of CSG and Investment Director for CSG International Projects.
Stefano Fiocchi, Chairman of Fiocchi Munizioni and representative of the Fiocchi family, explains: “Our family has supported Fiocchi Munizioni since 1876, when it was founded by my ancestor Giulio Fiocchi. A few years ago we decided to open our family business to a partnership with Charme Capital Partners, to accelerate the growth of Fiocchi Munizioni, adopt a modern managerial approach and finally strengthen our leadership position in the world. We are grateful to Charme Capital Partners for the successes we have built together. Today we welcome a new strategic partner who will lead Fiocchi Munizioni towards new goals. I am convinced that my family and Michal Strnad share the same entrepreneurial culture and a genuine desire to grow Fiocchi Munizioni and CSG. We look forward to collaborating with CSG”.
Maurizio Negro, CEO of Fiocchi Munizioni, commented: “The partnership between Charme Capital Partners and the Fiocchi family has been instrumental in achieving exceptional growth and international expansion over the past five years. This was also possible thanks to the people who work at Fiocchi Munizioni and share a true passion for what we do every day. We are now happy to become part of the CSG Group, with which we share a profound industrial and international culture. I am convinced that this new chapter in the history of Fiocchi Munizioni will be defined by solid growth and a further strengthening of our global leadership position”.
Flakes Ammunition
Fiocchi is one of the leading companies in the world in the production of small caliber ammunition. The company develops, produces and sells premium and super premium ammunition for shooting sports (it is the brand chosen by the best shooting athletes, and includes 33 Olympic medals won) hunting, through the iconic brands Fiocchi, Baschieri & Pellagri and Lyalvale Express, defense and law enforcement.
Fiocchi was founded in 1876 by Giulio Fiocchi in Lecco and has a strong legacy based on its 146-year history.
Fiocchi Munizioni is one of the few global players with three vertically integrated industrial poles and present in Italy and the United States (where Fiocchi has been present for over 40 years) and in England. The Fiocchi Group has a wide range of technological processes and patented products such as primers, the result of a continuous internal innovation process.
Fiocchi's strategy is based on two pillars: Go Premium and Go Green. The company is constantly aiming to consolidate its leadership and brand awareness through the expansion of the range of premium and super premium products and through the positioning of the brands in the high-end segment. Particular focus is placed on the development of products with low environmental impact, for which Fiocchi has always played a role of global leader with its "green" technologies (for example, lead-free primers).
Fiocchi today employs over 1.300 people. Since 2018, the Group has seen its workforce grow by 75% despite the pandemic, and is planning new hires in the coming years as well. The Group is also strongly committed to diversity and inclusion: in fact, the percentage of female workers represents over 40%.