FN Browning Group, whose subsidiaries include FI\I Herstal and Browning, announces that it has entered into exclusive negotiations to acquire the French group Sofisport world leader in the manufacture of shotshells and shotshell components for hunting and sport.
The proposed acquisition is based on the strong industrial, geographical and cultural complementarity between Sofisport, a French family-owned company, and FN Browning Group, which is owned by the Walloon Region, part of the Belgian federal state. In addition, Sofisport’s products perfectly complement all the ranges and brands marketed by FN Browning Group.
“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 there industrialisation of Wallonia. Forthe Walloon Government, defence is a strategic sector.”
Pierre-Yves Jeholet, Vice-President of the Walloon Government and Minister for the Economy
With their world-renowned expertise and strong local industrial base, the two groups are leaders in their respective fields. Their combination represents a unique opportunity to create a world-class European manufacturer, fully integrated in the field of small arms and ammunition.
In a complex international context characterised by increased competition from large integrated players, the combination of the two groups would strengthen their competitive development effects on continuity. position, performance and capabilities, with positive employment and business
“FN Browning Group and Sofisport are world leaders in their respective fields, with highly complementary and world-renowned 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 our companies and their subsidiaries. Together, we would create a strong, 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.”Julien Compere, CEO of FN Browning Group
The acquisition is subject to the satisfaction of customary conditions precedent for this type of transaction, including antitrust and regulatory matters.
“In a rapidly consolidating industry, this operation would create a world-leading group. For Sofisport, integration with FN Browning Group would be the ideal way to consolidate its strategic position in the hunting and sports sector, accelerate its objective of diversification and development in other market segments and better structure itself in an increasingly complex environment.
The combination of Sofisport’s culture of efficiency and performance with the FN Browning Group’s culture of innovation and excellence, with their shared ambition and long-term vision, would form the solid basis of a new leading group focused on sustainability, innovation and performance.”
Paolo Pederzoli, CEO of Sofisport
Source: FN Herstal news release
