Browning International S.A. reposted this
FN Browning Group is pleased to announce that it has entered into exclusive negotiations to acquire the Sofisport Group, a world leader in the manufacture of shotshells and their components. The combination of the two groups would create a world-class European integrated supplier of small arms and ammunition. The acquisition is subject to the satisfaction of customary conditions precedent for this type of transaction, including antitrust and regulatory matters. Julien Compere, CEO of FN Browning Group: "FN Browning Group and Sofisport are world leaders in their respective fields, with highly complementary and globally recognised expertise. Our two groups also share a similar industrial culture based on local ecosystems and cutting-edge know-how. In a context of industry consolidation, the acquisition would strengthen the competitiveness, growth and local industrial base of each of the companies and their subsidiaries. Together, we will create a strong and sustainable group with leading brands and a comprehensive range of products and services in each of our core businesses: defence and security on the one hand, and hunting and sport shooting on the other." Pierre-Yves Jeholet, Vice-President of the Walloon Government and Minister for the Economy : "The competitiveness of European industry is a fundamental challenge for the future of the Union and our countries. Consolidating and building European groups that are leaders in their fields is one of the keys to meeting this challenge. The future of employment and the industrial base of our regions and territories depend on it. The acquisition of Sofisport by FN Browning Group is a concrete and relevant step in this international context and is in line with our commitment to the reindustrialisation of Wallonia. For the Walloon Government, defence is a strategic sector." Read the full press release on our website: https://lnkd.in/ecPR4ige #drivingleadingbrands Paolo Pederzoli SOFISPORT SA Browning International S.A. Browning Browning Viana, S.A. Noptel Oy FN Herstal FN America, LLC FN UK