Beretta To Buy Sako
Editorial Staff
Metso Corporation, the current owners of Sako Ltd., a manufacturer of hunting and sports rifles, has agreed to sell the entire share capital of Sako Ltd., to the Italian company Beretta Holding on December 31, 1999, for an undisclosed price.
Sako Ltd specializes in the development and manufacture of hunting and competition rifles at three locations in Finland, with a sales branch in the USA. Annual net sales total approximately $150 million (Finnish), and the company has more than 200 employees.
The sale offers advantages to both companies. The acquisition of Sako lets Beretta expand its product range to include hunting rifles. And as part of Beretta, Sako gains access to a strong sales and distribution network and to the collective expertise of a long-established gun manufacturer.
"Beretta intends to keep rifle development and production in Finland and commit further resources to the company in response to expected volume growth," states Mr. U. Beretta, President of Beretta Holding. "Furthermore, Sako will become the Beretta unit responsible for the company's entire range in Northern Europe."
Beretta is the oldest gun manufacturer in the world. The company's product range covers handguns and shotguns, as well as gun products and accessories. Beretta's net sales in 1998 totaled approximately $230 million (Euro), and it has about 2,000 employees.
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Just one of the Good Guys
Editorial Staff
Metso Corporation, the current owners of Sako Ltd., a manufacturer of hunting and sports rifles, has agreed to sell the entire share capital of Sako Ltd., to the Italian company Beretta Holding on December 31, 1999, for an undisclosed price.
Sako Ltd specializes in the development and manufacture of hunting and competition rifles at three locations in Finland, with a sales branch in the USA. Annual net sales total approximately $150 million (Finnish), and the company has more than 200 employees.
The sale offers advantages to both companies. The acquisition of Sako lets Beretta expand its product range to include hunting rifles. And as part of Beretta, Sako gains access to a strong sales and distribution network and to the collective expertise of a long-established gun manufacturer.
"Beretta intends to keep rifle development and production in Finland and commit further resources to the company in response to expected volume growth," states Mr. U. Beretta, President of Beretta Holding. "Furthermore, Sako will become the Beretta unit responsible for the company's entire range in Northern Europe."
Beretta is the oldest gun manufacturer in the world. The company's product range covers handguns and shotguns, as well as gun products and accessories. Beretta's net sales in 1998 totaled approximately $230 million (Euro), and it has about 2,000 employees.
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Just one of the Good Guys