Czech firearms producer CZG buys American Colt

Published: 04.03.2021 Related countries:  Belgium Belgium

The transaction is part of the plan to become world leader in the area of firearms

Czech company Česká zbrojovka Group (CZG), a leading European producer of firearms and tactical accessories for military and law enforcement, personal defence, hunting, sport shooting and other civilian uses bought a 100% share in the well-known American Colt Holding Company. The plan of CZG is to become world leader in the area of firearms and the acquisition of Colt should help to achieve this goal. Colt has a strong position on the American market as it has been a supplier of American armed forces for 175 years, and it has also been active on the Canadian market. The transaction is worth USD 220 million and over 1 million shares of CZG that have recently been issued. The transaction still needs to be formally approved by regulatory bodies and it is expected to be finalised in the first half of 2021.

Source: https://www.e15.cz/

Prepared by the team of foreign office CzechTrade Belgium