Czech company CZ completes acquisition of iconic small arms manufacturer Colt
The deal is valued at $220 million. CZ expects revenues of over $500 million a year for the combined group
Eyal Boguslavsky
| 16/02/2021
Photo: Colt
CZ, a well-known Czech small arms manufacturer, officially announced over the weekend that it has fully acquired the iconic American company Colt, including its subsidiary Colt Canada, worth $220 million. The deal is expected to close definitively in the second quarter of 2021. Under CZ Group, Colt will join a portfolio including firearm manufacturers CZ, CZ-USA, Dan Wesson and Zbrojovka Brno (BRNO Rifles) that sold a combined 337,489 firearms globally in 2020, according to CZ.
Lubomír Kovařík, President and Chairman of CZG, said "The combined group will have revenues in excess of USD 500 million and presents a real small arms powerhouse. The experience of CZ and Colt management will further strengthen both brands and ensure CZ and Colt continue to deliver top quality products and solutions to all our customers."
In its statement, CZ said that with this strategic move, CZG will acquire significant production capacity in the United States and Canada and substantially expand its global customer base. Colt is a traditional supplier to global military and law enforcement customers. Among others, Colt is a long-term supplier to the U.S. Army , with a relationship that dates back over 175 years, and a designated exclusive supplier of small arms to Canada's military through the company's Canadian subsidiary.
The deal is valued at $220 million. CZ expects revenues of over $500 million a year for the combined group
Photo: Colt
CZ, a well-known Czech small arms manufacturer, officially announced over the weekend that it has fully acquired the iconic American company Colt, including its subsidiary Colt Canada, worth $220 million. The deal is expected to close definitively in the second quarter of 2021. Under CZ Group, Colt will join a portfolio including firearm manufacturers CZ, CZ-USA, Dan Wesson and Zbrojovka Brno (BRNO Rifles) that sold a combined 337,489 firearms globally in 2020, according to CZ.
Lubomír Kovařík, President and Chairman of CZG, said "The combined group will have revenues in excess of USD 500 million and presents a real small arms powerhouse. The experience of CZ and Colt management will further strengthen both brands and ensure CZ and Colt continue to deliver top quality products and solutions to all our customers."
In its statement, CZ said that with this strategic move, CZG will acquire significant production capacity in the United States and Canada and substantially expand its global customer base. Colt is a traditional supplier to global military and law enforcement customers. Among others, Colt is a long-term supplier to the U.S. Army , with a relationship that dates back over 175 years, and a designated exclusive supplier of small arms to Canada's military through the company's Canadian subsidiary.
