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The deal may close with the approval of the Competition Authority in the second quarter of 2021. CZ will buy one hundred percent of the shares in Colt Holding, the parent company of Colt’s Manufacturing Company of the United States and its Canadian interests.
“The merger is of strategic importance for both parties,” said Lubomir Kovarik, CEO of CZG, adding that he is very proud to include the popular American brand in his company’s product portfolio. Colt’s chief executive, Denise Filo, says the merger opens up excellent growth prospects for both parties.
The Colt trademark became known worldwide with the revolver developed by founder Samuel Colt in the early 1800s. If we look back on 175 years of history, the company is also an official supplier to the US Army and Canadian Forces.
Formed through the privatization of a former Czech arms manufacturer, the CZ Group is one of the largest small arms manufacturers in Europe, employing 1,650 people in the Czech Republic, Germany and the United States. Its pistols are marketed under the brands CZ (Ceska Zbrojovka), Dan Wesson, Brno Rifles and 4M Systems. Based on CZ licenses, small arms are also produced in Hungary:
According to Czechoslovakia, the combined annual sales of the two companies could reach around $ 500 million. Sales of Czechoslovakia reached 5 billion crowns ($ 235 million) in the first nine months of 2020, up 10 percent over the previous year, mainly due to increased demand for small arms in the United States.
Cover photo: Ethan Miller / Getty Images
