Baker McKenzie advised RUAG International Holding ("RUAG International") on the sale of its Ammotec business unit to Beretta Holding.
RUAG International's small-caliber ammunition business will be sold to Beretta Holding, taking into account all conditions made by the Swiss Federal Council. Beretta Holding will take over all 2,700 employees at all production and sales sites. Beretta Holding has committed itself to maintaining the Thun site with around 400 jobs for at least five years.
Ammotec is one of the leading European supplier of small-caliber ammunition. Ammotec generates around two-thirds of its total sales in the civil sector — with hunting and sporting ammunition or components for industry. Beretta Holding has been family owned since its founding in 1526, and it has become a globally recognized leader in light firearms for hunting, sport and defense.
The closing of the transaction is subject to regulatory approvals. The parties have agreed not to disclose any financial terms.
Baker McKenzie advised RUAG International on all legal, regulatory and competition law aspects of the transaction.The Baker McKenzie team was led by Petra Hanselmann (partner M&A) and Alexander Fischer (partner M&A) and included Boris Wenger (partner, antitrust), Ramon Tissafi (associate M&A), Debora Foglia (associate M&A) and Anna Zellweger (trainee).