GARDONE VAL TROMPIA, Italy—For 500 years the Beretta family has made guns in this Alpine valley. Now the world’s oldest defense company is taking aim at America’s largest firearms maker. The Italian company, run by the 15th generation of the founding family, has amassed a near 10% stake in rifle maker Sturm, Ruger & Co. as part of a broader strategy to win more business in the U.S. “Italy is our roots and our heart, but to make business in the U.S., the opportunity is amazing,” Beretta Holding Chief Executive Pietro Gussalli Beretta said in an interview. Beretta is riding…

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