Italian Gunmaker Beretta Launches Proxy Fight for US Firearms Giant Sturm, Ruger & Co.

Beretta aims to nominate four executives to Ruger's nine-member board as it seeks greater control over its main US rival.

Published on Feb. 26, 2026

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Italian gun manufacturer Beretta is launching a proxy fight to take control of Sturm, Ruger and Co., America's largest firearms maker. Beretta, which has built a 10% stake in Ruger, wants to nominate four executives to join the company's nine-member board in a bid to gain more influence over its main US rival to Smith & Wesson.

Why it matters

The clash between the two iconic gun manufacturers comes amid a sales slump and plunging profits at Ruger, whose share price has fallen over 40% in the past four years. Beretta's move signals its ambitions to expand its presence in the lucrative US firearms market, which is the world's largest legal market due to the Second Amendment.

The details

Beretta's nominees for Ruger's board include William Franklin Detwiler, managing partner of Fernbrook Capital Management; Mark DeYoung, the founding CEO of Vista Outdoor; Frederick Disanto, CEO of Ancora Holdings; and Michael Christodolou, the founder of Inwood Capital Management. A proxy fight is an unfriendly contest for control of a company in which a group of shareholders tries to convince other investors to vote out the current board of directors or management. Any vote would likely take place at Ruger's annual general meeting scheduled for May 29.

  • Beretta first revealed an initial 9% stake in Ruger in an October 2025 filing.
  • Ruger then adopted a one-year shareholder rights plan, often called a 'poison pill', amid concerns about Beretta's growing ownership stake.
  • The proxy fight is expected to come to a head at Ruger's annual general meeting on May 29, 2026.

The players

Beretta

An iconic Italian gun manufacturer with ties to Italy's Alpine region of Lombardy that was founded in 1526. Beretta raked in $1.7 billion in revenue in 2024 and has been snapping up rivals like Switzerland's RUAG Ammotec.

Sturm, Ruger & Co.

America's largest firearms maker, based in Hartford, Connecticut. Ruger has faced a sales slump and plunging profits in recent years, with its share price falling over 40% in the past four years.

William Franklin Detwiler

Managing partner of Fernbrook Capital Management, one of Beretta's proposed nominees for Ruger's board.

Mark DeYoung

The founding CEO of Vista Outdoor, one of Beretta's proposed nominees for Ruger's board.

Frederick Disanto

CEO of Ancora Holdings, one of Beretta's proposed nominees for Ruger's board.

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What’s next

Any vote on Beretta's proposed board nominees would likely take place at Ruger's annual general meeting scheduled for May 29, 2026.

The takeaway

The proxy fight between the two iconic gun manufacturers highlights the competitive dynamics and consolidation pressures in the lucrative US firearms market, as Beretta seeks to expand its presence and influence over its main rival Sturm, Ruger & Co.