After running Glock for nearly 48 years, and 29 years after his invention of the ground breaking Glock handgun, Gaston Glock announced today in Deutsch Wagram, Austria that he has sold Glock Ges.m.b.H. to Fabbrica D'Armi Pietro Beretta for a sum of 2.41 Billion Euros, and is retiring from business at the age of 81. Under the agreement that was signed this week, Glock will become another brand name under the ever expanding Beretta umbrella of firearms.
A spokesman for Beretta, Stefano Quarena, said at the press conference that no immediate changes are foreseen for Glock, and that Glock operations in both Austria and the USA will remain unchanged. Quarena did say that Beretta management will leverage technologies developed at Glock and other divisions of Beretta, to make new improvements and developments of future firearms.
Gaston Glock has now become one of the richest men in all of Europe.
See this Beretta Press Release for full details of the sale: