Beretta Holding has launched an offer to more than double its stake in U.S. sporting firearm manufacturer Sturm, Ruger & Co. as part of a strategic partnership the two firms agreed in May.
Beretta Holding is offering $44.80 per share to secure up to 25 percent of Sturm Ruger, up from a current stake of 9.93 percent.
Beretta said the tender offer price represents a premium of approximately 20 percent over the 60-day volume weighted average price of Ruger’s shares as of March 24, 2026, the last full trading day prior to Beretta first announcing plans to purchase up to 20.05 of Ruger’s common stock, as well as a premium of approximately 21 percent over the closing price of Ruger’s shares on September 16, the last full trading day before the commencement of the tender offer.
The tender offer runs until October 15 and is not subject to reaching a minimum threshold or to any financing condition.
On March 25, Beretta sent a letter proposing a partial tender offer to acquire up to an additional 20.05 percent of Ruger’s shares, which would have increased its total ownership stake to about 30 percent. Previously, the Italian firearms maker sought to engage Ruger about a potential investment and launched a proxy fight by nominating four candidates to Ruger’s Board of Directors. In May, Beretta agreed to drop its proxy fight in exchange for expanding its stake to 25 percent and gaining up to two independent board seats.
Chairman and CEO Pietro Gussalli Beretta said the investment in Ruger is the only publicly listed firm in Beretta’s portfolio of around 50 companies. He said, “This investment reflects the evolution of our group, which now comprises a global portfolio of over 50 companies, and represents a concrete step towards strengthening our presence in the United States, the world’s largest market.”
The launch of the offer follows Wednesday’s announcement by Sturm Ruger that applicable regulatory conditions under its previously announced cooperation agreement with Beretta Holding have been satisfied.
Image courtesy Sturm, Ruger
