Česká zbrojovka Group SE (CZG) agreed to buy American Colt

Published: 11.02.2021 Related countries:  Canada Canada, U.S.A. U.S.A.

CZG has acquired the famous American Colt and thus strategically expanded its global production and customer network

Česká zbrojovka Group SE (CZG) has signed a final deal to buy American Colt Holding Company LLC. The company announced the news on Thursday February 12, 2021. The Czech arms manufacturer purchased 100 % stake in Colt for 220 billion USD in cash and 1 098 620 newly issued shares of CZG. CZG noted that that due to this acquisition, it will gain important manufacturing facilities in both the United States of America and Canada, as well as, wider international customer network. Colt has been a long-term supplier to the American Army and, through its subsidiary, also the sole supplier of small arms to the Canadian Armed Forces. CZG is one of the leading European manufacturers of hand firearms for armed forces, self-defense, hunting, shooting sports and other civilian uses. It employs around 1650 people in its operational facilities in the Czech Republic, the United States of America and Germany.

Source: Czech News Agency (ČTK), CzechTade team Calgary