Colt Holding Company LLC announced CZG Group has successfully closed its acquisition of 100 percent of the equity interest in Colt, the parent company of the U.S. firearms manufacturer, Colt’s Manufacturing Company LLC and its Canadian subsidiary, Colt Canada Corporation.
CZG secured regulatory approvals from the U.S. and Canadian authorities to complete the deal.
CZG and Colt see the merger bringing operational, commercial and R&D synergies for the combined business, which generated proforma aggregated annual sales in excess of U.S.$570 million in 2020 and which has more than 2,000 employees in U.S., Canada, Germany, and the Czech Republic.
“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,” saidLubomír 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.
With the acquisition, CZG increases its production capacity for firearms manufacturing 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,” said Dennis Veilleux, president and CEO, Colt.
CZG, headquartered in the Czech Republic, is a European producer 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, Colt, CZ-USA, Dan Wesson, Brno Rifles, and 4M Systems brands.
Photo courtesy Colt Manufacturing Co.
