CZ Buys Colt

The Czech firearms company Ceska Zbrojovka Group (CZG) has bought Colt Holding, the parent of Colt’s Manufacturing Company and a Canadian subsidiary, for $220 million in cash and stock.

In a release from CZG, they state that both companies are confident that the merger will bring significant operational, commercial, and R&D synergies for the combined business, which has more than 2 000 employees in the Czech Republic, the United States, Canada and Germany.

CZG, whose firearms include CZ (Ceska Zbrojovka), Dan Wesson and Brno Rifles, is already active in the United States. “With this strategic move, CZG will acquire significant production capacity in the United States and Canada and substantially expand its global customer base,” CZG said

Colt is one of the world’s leading designers, developers, and manufacturers of firearms. It has supplied commercial, military and law enforcement customers in the U.S. and throughout the world for over 175 years. Dennis Veilleux, President and CEO of Colt stated: “We believe in the successful connection of our corporate cultures, the proven track record of our teams and the complementary nature of the CZ and Colt brands.”