Sounds like the Italian manufacturers are banding together as a marketing group to sell each maker's complete product line through a single, unified point of sale:
The I.F.G. product range will include: hunting shotguns (OU, Sxs), combination rifle/shotguns, express rifles, SxS rifles, bolt action rifles, single shot rifles, semiautomatic pistols (center fire, rim fire standard, competition, hunting) air guns, muzzle loading guns and accessories (traditional and modern) historical re-enactment guns, single shot rifles and lever action rifles.
All I.F.G. products represent the finest level of quality for each of the respected manufacturers. Distribution will be through typical distribution channels as well as direct distribution when and where available, depending on product and legal requirements and existing distribution agreements.