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COLT ANNOUNCES CLOSING OF ACQUISITION BY CZG – Česká zbrojovka Group SE

Colt Holding Company LLC (“Colt”) announced today that  CZG – Česká zbrojovka Group SE (“CZG” or “the Group”; PSE: CZG), having secured all  necessary regulatory approvals from the U.S. and Canadian authorities, has successfully closed  its acquisition of 100% of the equity interest in Colt, the parent company of the U.S. firearms  manufacturer, Colt’s Manufacturing Company LLC as well as its Canadian subsidiary, Colt  Canada Corporation.  

CZG and Colt are confident that the merger will bring significant operational, commercial, and  R&D synergies for the combined business, which generated pro-forma aggregated annual sales  in excess of USD 570 million in 2020 and which has more than 2,000 employees in the Czech  Republic, the United States, Canada and Germany. 

“With this acquisition, we have created a strategic relationship between CZG and Colt, which will  bring significant opportunities for the group. We will focus on continuing to provide high quality  products to our customers in a seamless manner as we harness the many synergies generated  by this acquisition. We are confident that this combination will create value for our customers and  shareholders alike and strengthen these iconic brands,” stated Lubomír Kovařík, Chairman and  President of CZG. “This merger also confirms our commitment to the North American market  which is an integral part of our growth strategy,” he added. 

Thanks to this acquisition, CZG gains further production capacity and positions itself to become a  leading firearms manufacturer and a key partner globally for military, law enforcement and  commercial customers.  

“Colt is pleased to join forces with CZG. We are proud of our heritage and believe that the  strength of the combined businesses and the many synergies created by the merger will enable  us to honor our roots while also securing the future of the Colt brand. We look forward to  continuing to deliver our high- quality products while also investing in innovation and new product  offerings in the near future. We believe in the successful connection of our corporate cultures,  the proven track record of our teams and the complementary nature of the CZ and Colt brands,” stated Dennis Veilleux, President and CEO of Colt.

About CZG – Česká zbrojovka Group SE 

CZG – Česká zbrojovka Group (CZG), together with its subsidiaries, is one of the leading  European producers of firearms for military and law enforcement, personal defense, hunting,  sport shooting and other commercial use. CZG markets and sells its products mainly under the  

CZ (Česká zbrojovka), CZ-USA, Dan Wesson, Brno Rifles and 4M Systems brands. CZG’s  subsidiaries include Česká zbrojovka, CZ-USA, 4M Systems and CZ Export Praha. CZG owns a  minority stake in Spuhr i Dalby, a Swedish manufacturer of optical mounting solutions for  weapons. 

CZG is headquartered in the Czech Republic. It has production facilities in the Czech Republic  and in the United States and employs around 1,670 people in the Czech Republic, the United  States and Germany.

About Colt  

Colt is one of the world’s leading designers, developers, and manufacturers of firearms. It has  supplied commercial, military and law enforcement customers in the U.S. and throughout the  world for over 175 years.  

Colt is a supplier to the U.S. military, the exclusive supplier to the Canadian military and it also  supplies its products to other armed forces around the world. Colt firearms enjoy a reputation  throughout the world for accuracy, reliability and quality. Colt pistols and revolvers are carried by  military and law enforcement personnel in numerous countries and are used by hunters and  sportsmen and sportswomen worldwide. Colt commercial, sporting, military and law enforcement  rifles enjoy similar renown.  

About Colt  

Colt is one of the world’s leading designers, developers, and manufacturers of firearms. It has  supplied commercial, military and law enforcement customers in the U.S. and throughout the  world for over 175 years.  

Colt is a supplier to the U.S. military, the exclusive supplier to the Canadian military and it also  supplies its products to other armed forces around the world. Colt firearms enjoy a reputation  throughout the world for accuracy, reliability and quality. Colt pistols and revolvers are carried by  military and law enforcement personnel in numerous countries and are used by hunters and  sportsmen and sportswomen worldwide. Colt commercial, sporting, military and law enforcement  rifles enjoy similar renown.  

The post COLT ANNOUNCES CLOSING OF ACQUISITION BY CZG – Česká zbrojovka Group SE appeared first on Hunting and Hunting Gear Reviews.


Source: Huntinglife

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