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.

Leave a Reply

Your email address will not be published. Required fields are marked *