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Colt Holding Co. has been purchased by a Czech firearms company, ending a 175-year run as an American company and helping to establish a “small arms powerhouse,” the two companies announced Friday. It also marks a new chapter for Colt, a one-time financially troubled company that, with its new Czech owner, is now expected to generate $500 million in revenue. Ceskazbrojovka Group, or CZG, said it signed a definitive agreement to acquire 100% of the shares of Colt Holding Co. LLC, the parent company of Colt’s Manufacturing Co. and its Canadian subsidiary, Colt Canada Corp., for $220 million in cash and more than 1 million shares of the Czech company.

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