Norma Precision AB acquires minority in Gyttorp AB
Fuerth, Germany, 8 January 2014 Norma Precision AB and Förvaltnings AB Segersta have signed a contract whereby Norma acquires a minority share in Gyttorp AB in January, 2014 with an option to buy remaining shares. Norma Precision AB is a wholly owned subsidiary of RUAG Ammotec, the European market leader in hunting and sports ammunition.
The deal marks another step in RUAG´s strategy to strengthen its wholesale operations in its key markets in order to develop its business and relations to distributors and end customers as well as expand its product portfolio with market leading brands. The parties have agreed not to disclose the purchase price.
Gyttorp AB is the market leader for shotshells in the Nordic countries and the assets of the company include Gyttorp Jakt AB and Gyttorp Oy, which are established wholesalers for sporting/hunting goods in Sweden and Finland. Gyttorp cartridge company AB that manufactures shotshells is also included in the deal.
“I´m very pleased to have the opportunity to welcome Gyttorp wholesale operations as our new partner in Sweden and Finland and look forward to work closely together to further strengthen and expand our market shares in the territory”, says Matthias Vogel, VP Marketing of RUAG Ammotec.
Gyttorp will become the sole distributor for all RUAG owned hunting and shooting related brands – Norma, RWS, Geco, Rottweil - in Sweden and Finland.
For more information please contact: Paul-Erik Toivo, CEO Norma Precision AB phone +46 72 572 4947.