Beretta's bold $44.80-per-share bid to seize 30% of Sturm Ruger

Beretta Holding, the world's oldest firearms manufacturer, is pushing to expand its influence over Sturm Ruger, one of America's most recognised gunmakers. The Italian firm has proposed raising its stake in the US company to 30 percent, despite Sturm Ruger previously calling the moves a 'creeping takeover'. Beretta Holding currently owns just under 10 percent of Sturm Ruger's shares. In recent weeks, it has ramped up pressure, launching a proxy fight to place four of its own directors on Sturm Ruger's board.

The company has now offered an all-cash tender to buy an additional 20 percent of Sturm Ruger's stock at $44.80 per share. To proceed, Beretta Holding has asked Sturm Ruger to waive its poison pill defence, a measure designed to block hostile takeovers. Sturm Ruger's share price has plummeted since late 2021, when it peaked at around $162. By March 2026, the stock traded at roughly $40–45—a drop of over 70 percent. The decline followed falling demand after the COVID-19 firearms boom, excess inventory at dealers, higher interest rates, and weaker financial results since 2022. Beretta Holding, best known for its pistols and assault rifles, reported nearly €1.7bn in sales last year. Sturm Ruger, meanwhile, produces revolvers and hunting rifles but has faced growing competition and financial strain in recent quarters.

If successful, Beretta Holding's tender offer would significantly increase its control over Sturm Ruger. The outcome depends on whether Sturm Ruger's board agrees to lift its takeover defences. The move could reshape the leadership and strategic direction of one of America's oldest firearms brands.