Olshan Guides Beretta Holding in Strategic Cooperation Agreement with Sturm, Ruger

The Wall Street Journal, The Deal (subscription required), Seeking Alpha  and other media outlets reported that Olshan client Beretta Holding, a Luxembourg-based storied gun manufacturer and premium lifestyle brand, has reached a strategic cooperation agreement with U.S. gun manufacturer Sturm, Ruger & Co. Under the terms of the agreement, Beretta Holding will be able to increase its ownership stake to up to 25% of Ruger’s outstanding common shares through a tender offer. The agreement also provides Beretta Holding with the right to nominate up to two independent directors to Ruger's board of directors following the 2026 Annual Meeting after certain conditions have been met. Beretta Holding has committed to working collaboratively with Ruger over a three-year period, during which the Beretta Holding appointed directors will be renominated for election at the 2027 and 2028 Annual Meetings. The agreement marks the end of a contentious campaign between two leading firearms manufacturers that had been brewing since October 2025. Olshan Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman led the representation of the Beretta Holding team that included Shareholder Activism partner Dorothy Sluszka, associates Mark Kiley and Darin Mathew and law clerk Calli Schmitt.