SAG Acquires Ammunity to Boost Latvian Ammunition Production and Innovation
Ammunity, a Latvian ammunition manufacturing company, has been fully acquired by SAG. The deal, which saw Viktors Juris Ozols, Juris Užulis, and Dāvis Vilis Ozols step down as shareholders, aims to boost production and innovation in the industry. Defence Minister Andris Sprūds welcomes the investment, citing the industry's competitiveness.
Prior to the acquisition, Ammunity was owned by Viktors Juris Ozols (51%), Juris Užulis (30%), and Dāvis Vilis Ozols (19%). The company, formerly known as Vairog EU, changed its name to attract strategic investors and triple its production volume in the industry. Ammunity supplies ammunition to Latvia's National Armed Forces and exports to several EU countries and the US, with a product range of 32 items.
The partnership with SAG will enable Ammunity to expand production, invest in innovation, and strengthen Latvia's role in the European defence industry. The Latvian Ministry of Defence supported Ammunity in attracting this investment. Although the acquisition amount remains undisclosed, Ammunity had planned to sell 100% of its shares and attract €25 million in investment to increase production volumes by 3-4 times in the industry.
SAG's acquisition of Ammunity signals a significant boost for the Latvian defence industry. With increased investment and production, Ammunity is set to play a larger role in both domestic and international defence markets, further cementing Latvia's position in the European defence industry.
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