As today’s top story reports, there’s a continued wave of consolidation across the industry. Today’s news reports the acquisition of a majority stake in Fiocchi Munizioni -the parent company of Fiocchi USA - by Czechoslovakia-based Czechoslovak Group (CSG).
Prague-based CSG group isn’t an unknown in automotive, aerospace, defense, rail or business sectors across the globe, but it’s not a known entity in our sector-yet. With more than 8,000 employees, it is a private company, wholly-owned by Michal Strnad. It owns and operates companies across diverse business areas and has partnered with General Dynamics, Siemens, Raytheon, Lockheed Martin, Boeing, and Rheinmetal.
The Fiocchi family will maintain a 30 percent stake (along with Charme Capital Partners who acquired the company in 2017) which will keep their 146-year family history going.
Strnad says the acquisition represents the “largest financial investment in the history of our group.” He also says the Fiocchi family will continue to be involved as they move forward.
This is the largest acquisition we’ve seen publicly announced, but we know it’s not the only acquisition either in the final stages or quietly completed. As the United States continues to retain its position as one of the dominant players in the international firearms industry, companies in other areas are finding it advantageous to partner with -or acquire- American companies as they come available.
Speaking of dominant groups…no matter what your feelings about SHOT Show, it has continued to emerge as one of the major players -and bellweathers- of the not-insignificant trade show industry. Sure, there are other “majors”- but SHOT has emerged as one of the leaders of the trade show business. To the point that last year’s SHOT Show was chosen the “Comeback Winner for Trade Show Excellence ” by the Trade Show News Network (TSNN).
Saying SHOT has changed since I first attended would be fair, but understated. Today, the show is bigger (too-much so at times), but easy to navigate, traffic notwithstanding, and is looking ahead. Forward-thinking hasn’t always been permitted, but this year’s SHOT is adding more to the event-without adding days to the hotel bill.
Last year’s expansion to the Caesars Forum was successful, but a bit understated due to the lingering effects of covid. The 2023 show, however, is poised to take advantage of the opportunities lost by the lingering effects of the pandemic.
I talked with NSSF’s Senior Vice President and Chief Customer Officer, yesterday about the next edition of SHOT Show. And he was quick to remind me there are lots of new things coming: from the SHOT Show after Dark events (everything from receptions to a full-on concert featuring known artists and a “mystery guest”) to things they’re “not quite ready to announce” but you’ll see in the Wires over the next couple of weeks.
He also clued me in to something that makes it obvious that while SHOT may still be on the comeback trail -along with every other show- it’s far better than the 20-30% drops being experienced by other major shows.
That is decidedly not the case with SHOT Show. As of noon yesterday, Dolnack told me, the SHOT Show floor was “officially sold out” and there’s a waiting list for space.
Despite (or maybe due to) an administration that is decidedly against guns and gun ownership, the firearms industry is moving along quite nicely, thank you. The FBI’s National Instant Criminal Background Checks (NICS) system confirms the fact that demand for firearms is high-although not at the record-breaking levels of the past two years.
Black Friday’s NICS totaled 192,749 checks -that’s the third highest of the top 10 NICS checks. It’s also a 2.8 percent increase over Black Friday 2021. That, according to the NSSF’s President and CEO Joe Bartozzi, makes 2022 “the third strongest year on record, coming off the outsized years of 2020 and 2021.”
According to Bartozzi, “those figures tell us the is still continued strong appetite for firearm ownership by law-abiding Americans and that firearms manufacturers across the country continue to deliver the quality firearms our customers have come to expect.”
I’ll stop him when I disagree….and we’ll keep you posted.
— Jim Shepherd