Beretta Holding signs a 125 million deal for a new factory in Croatia

Beretta Holding is to invest in a new small-calibre ammunition production plant in Croatia. The project stems from an agreement, to be signed today in Zagreb, between the Italian-owned company, based in Luxembourg, and the Government of the Republic of Croatia. The agreement provides for the construction of a new factory in Obrovac, in Zadar County. This is a joint investment totalling 125 million euros. Beretta will hold a 50 per cent stake plus one share, with the remaining shares divided between the Croatian Government and the private investor Ivan Kapetanović. Beretta will also be responsible for technology transfer, supply chain management and the set-up of the production lines. The plant is expected to be operational by mid-2029; once fully operational, it will employ around 250 people and is forecast to generate an annual turnover of between 70 and 80 million euros.

“In this factory,” says Pietro Gussalli Beretta, Chairman and Chief Executive of Beretta Holding, “we will be the majority shareholders because the products are, for the most part, complementary to the rest of our ammunition division. In Europe, we have ammunition factories in Germany (the largest), Sweden, Hungary and Switzerland. In Croatia, we will be producing a calibre that we currently manufacture, in part, at our Swiss plant; this is for the machine guns mounted on top of tanks; and then there are the primers – the components that detonate the ammunition – for which our factory in Germany is currently operating at full capacity. “This new Croatian facility reflects the company’s long-term commitment to strengthening the industrial base of European defence. By combining technologies, industrial know-how honed over several decades and strong local partnerships, we aim to play an active role in strengthening Europe’s security and strategic autonomy.”

Indeed, under the leadership of Gussalli Beretta, the group – which is celebrating 500 years of history (it was founded in 1526) – has undergone a significant strategic and organisational transformation in recent decades: the establishment of the holding company, together with dozens of acquisitions worldwide, has enabled it to build a group comprising over 50 companies, with a position of global leadership in small arms, optical products and ammunition.

In 2025, Beretta Holding, whose revenue is split between the civilian sector (hunters and sports enthusiasts: approximately 60 per cent) and the defence sector (approximately 40 per cent), achieved a turnover of €1.68 billion, with an EBITDA of €254 million. As for the group’s international expansion, this is evident from the turnover broken down by geographical area, which, in 2025, was distributed as follows: Europe 55 per cent, North America 32 per cent, rest of the world 12 per cent.

As regards the agreement in Croatia, “this is a classic example,” emphasises Gussalli Beretta, “that can be traced back to what is happening in Europe. A European Union in which the governments of certain countries – in this case Croatia, though it is not the only one – are stepping up investment to build up a defence-related industrial capacity greater than that which they previously possessed. And whilst our agreement with Croatia comes shortly after the one struck by Fincantieri (which signed, in July, two memoranda of understanding with the Croatian shipbuilders Brodotrogir Cruise and Iskra Shipyard, ed.), we had previously concluded very important agreements, covering both rifles and ammunition, with Sweden and Finland. In short, these are intra-European relationships aimed at strengthening the defence capabilities of countries which, at this moment in time, probably feel more vulnerable.”