World

Legendary Colt weapons company sold to Czechs

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.


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