Beretta Launches Proxy Fight for Sturm Ruger Control

Beretta, which has accumulated a 10% stake in Ruger, seeks to nominate four executives to Ruger's nine-member board. This aggressive move comes as Sturm, Ruger has experienced a significant decline, with its share price plummeting over 40% in the past five years and its market capitalization currently at $581 million.

Ruger previously adopted a "poison pill" shareholder rights plan to deter Beretta's increasing ownership, following an initial 9% stake disclosure where Beretta cited interest in "operational and strategic collaborations." Beretta, a 500-year-old firm with $1.7 billion in 2024 revenue, has been actively expanding, including the 2022 acquisition of RUAG Ammotec, and aims to strengthen its presence in the lucrative U.S. firearms market. The proxy vote is anticipated at Ruger's annual general meeting on May 29.