Article content
PRAGUE CZG-Ceska Zbrojovka Group said on Thursday it would acquire group Colt Holding Company for $220 million and CZG shares as the Czech gunmaker expands in the larger U.S. market.
CZG, whose firearms include CZ (Ceska Zbrojovka), Dan Wesson and Brno Rifles, is active already in the United States and building a factory in Little Rock, Arkansas.
We apologize, but this video has failed to load.
Try refreshing your browser, or (OFFICIAL)-Czech gunmaker CZG buys Colt in cash and stock deal Back to video
The Czech group said it would acquire 100% in Colt Holding, the parent of Colt’s Manufacturing Company and a Canadian subsidiary, for the cash consideration and 1.099 million pieces of newly issued CZG stock.
Czech Republic firearms manufacturer Česká zbrojovka Group SE (CZG) said Thursday it had acquired West Hartford gun maker Colt Holding Co.
CZG announced it had reached a definitive agreement to buy 100% of the outstanding equity interest in Colt Holding Company LLC (“Colt”), the parent company of Colt Manufacturing Company LLC, and well as its Canadian subsidiary, Colt Canada Corp.
Under the deal CZG will pay $220 million and issue about 1.1 million shares of newly issued CZG common stock, according to CZG.
The transaction is subject to regulatory approval but is anticipated to close in the second quarter of 2021, according to CZG.
Czech Republic firearms manufacturer Česká zbrojovka Group SE (CZG) announced it is negotiating to acquire West Hartford gun maker Colt Holding Co.
The two companies reached "an agreement in principle" on the most important aspects of CZG's prospective purchase of the 175-year-old Colt, according to CZG. Details of negotiations or possible terms of the transaction were not disclosed.
Gun manufacturer Colt, an American legend and Connecticut fixture for nearly 175 years, could come under European ownership in a deal being negotiated with a Czech firearms company.