The American company went bankrupt in 2015. It was bought by Ceska Zbrojovka for $220 million.
Czech company Ceska Zbrojovka bought American gunsmiths Colt, according to the buyer’s website.
The American company was sold for $220 million. The transaction was partially paid for by Ceska Zbrojovka securities. The previous owners will receive a million shares. They are still entitled to the same amount, provided that Colt’s EBITDA (pre-tax profit) in 2021-2023 reaches the pre-agreed indicators.
Ceska Zbrojovka expects the Czech regulator to approve the deal in the second quarter of 2021.
The Czech company notes that the acquisition of Colt “ fits perfectly into the strategy of becoming a leader in the production of firearms and a key partner for the armed forces.”
Colt was founded in 1836 and specialized in the production of pistols and revolvers of the same name. In June 2015, Colt declared bankruptcy.
