Beretta Fires Back After Ruger Accuses Italian Gunmaker of Hostile Takeover Attempt

America’s largest publicly traded gun firm has accused its Italian rival of trying to “seize management” of its operations.

In a public assertion launched Monday, Sturm Ruger mentioned Beretta is trying to “stealthily” achieve management of it via discounted share purchases and strategic board appointments. Ruger additional alleged its proposals for a collaborative enterprise relationship with Beretta have been rebuffed, and that the corporate threatened to “go to battle” if its takeover calls for weren’t met.

“Beretta sought to purchase Ruger inventory at a 15% low cost from Ruger in a non-public placement and to acquire disproportionate board illustration and voting energy that may give it near-veto energy over essential issues,” the corporate mentioned. “Ruger’s board will proceed to guard Ruger’s stockholders and all Ruger stakeholders.”

In an announcement of its personal on Tuesday, Beretta denied that it was trying a takeover and fired again at what it referred to as “blatantly false and deceptive statements” by Ruger.

“Beretta Holding is disenchanted that Ruger has elected to egregiously violate its contractual obligations below its Confidentiality Settlement with us and share confidential discussions in an underhanded, distorted try and discredit Beretta Holding,” the corporate mentioned. “We stay open to a negotiated consequence and consider such a decision would finest serve Ruger and its shareholders.”

The general public back-and-forth marks a severe escalation within the current discussions between Ruger and Beretta. It units the stage for a possible proxy struggle, with management over one of many few publicly traded American firearm giants hanging within the stability.

Beretta first started buying shares of Ruger again in September 2025, in accordance with the corporate, finally amassing a ten% stake. In an interview with the Wall Road Journal final month, Beretta Holding CEO Pietro Gussalli Beretta mentioned the corporate was trying to increase its presence within the US civilian firearms market to hedge towards volatility in its European army enterprise. He additionally mentioned Beretta was not trying to launch a takeover or win board seats at Ruger, however slightly to work collaboratively on a mutually helpful enterprise technique.

Ruger, nonetheless, claims the corporate’s actions over the previous couple of months belie these statements. After a number of months of constant to buy its inventory, Ruger mentioned Beretta management initially refused to satisfy. Ruger then adopted a shareholder-rights plan, generally generally known as a “poison tablet,” to protect towards a possible takeover. Finally, the 2 sides held a sit-down in December 2025.

“At that assembly, Beretta’s Chair indicated a long-term plan to mix Ruger with Beretta however made no formal proposal,” Ruger mentioned. “Beretta’s Chair additionally indicated that he had little interest in the established order and that he would discover a strategy to enhance his place if Ruger remained resistant.”

The businesses once more met in February to debate attainable preparations, Ruger mentioned, however the two sides failed to return to an settlement. In accordance with Ruger, that’s when Beretta started advancing “excessive calls for.”

“Beretta, a competitor of Ruger, demanded that it obtain disproportionate illustration on the Board, and sought to nominate a member of the Beretta administration group to Ruger’s Board, which might violate U.S. antitrust legal guidelines,” the corporate mentioned. “The board seats and possession stage Beretta demanded would set off necessary CFIUS assessment, implicating delicate nationwide safety points.”

Beretta retorted that any suggestion of potential regulatory and nationwide safety points is “clear scare techniques aimed to distract from the Board’s oversight failures.”

“Beretta Holding has nominated a minority slate of skilled nominees which might be operating as unbiased administrators, and at no time did we advise appointing our CEO to Ruger’s Board,” the corporate mentioned. “Any implication that Beretta Holding proposed actions that may violate relevant guidelines or laws is solely false.”

Beretta maintained that it “stays dedicated to reaching a constructive answer that may assist reverse persistent underperformance – underscored by [Ruger’s] disappointing full-year outcomes.”

In its most up-to-date earnings report, Ruger reported $546.1 million in web gross sales throughout 2025, a 1.9% enhance over 2024. Nevertheless, it additionally reported an almost $65 million decline in working earnings during the last two years, from $52 million in 2023 to an working lack of $12 million in 2025. Beretta highlighted this “deteriorating monetary efficiency” and argued that it in contrast unfavorably with Smith & Wesson, the one different publicly traded American-owned gunmaker. Beretta argued these outcomes underlie the corporate’s push for a “strategic minority funding” in Ruger.

“Such an funding would enable Ruger to attract on Beretta Holding’s 5 centuries of working experience within the world firearms sector to reverse its downward trajectory,” the corporate mentioned.