CZ Group To Buy Colt?

by
posted on January 16, 2021
cz-group.jpg

The Hartford Courant reported on Jan. 12 that, “Gun manufacturer Colt, an American legend and Connecticut fixture for nearly 175 years, could come under European ownership in a deal being negotiated with a Czech firearms company.”

The story stemmed from a statement issued by CZ Group [PDF] on Jan. 9 in which the company said, “The parties have reached an agreement in principle on key commercial parameters of the transaction and they continue discussing the technical parameters, regulatory review requirements, and legal terms and conditions of the transaction.

Execution of the definitive documentation for the transaction is estimated to take place by the end of January 2021, subject to completing the negotiations, finalizing the transaction documentation, and obtaining necessary approvals of the relevant stakeholders.”

Colt was founded by Samuel Colt at the age of 22. Among the most historically important firearms he and his company helped create are the Walker and famed Colt Single Action Army. The company has also manufactured and provided a variety of firearms for the U.S. military.

The firm traces its roots back to 1836, although it temporarily shuttered its doors in 1842. The factory burned to the ground in 1864 and it filed for bankruptcy protection in both 1992 and 2015. It emerged on both occasions, but the last recovery presented a different set of hurdles—the labor union that represents the plant’s workers filed a lawsuit in 2018 and unfounded rumors began circulating when it withdrew from an oversaturated AR-15 market.

Despite the challenges, the company continues its legacy of building quality firearms. Its King Cobra and new Python, for example, were recently released and warmly welcomed by enthusiasts.

CZ Group is headquartered in the Czech Republic, with subsidiary firms there, as well as the United States and Germany. It currently employs 1,650 people worldwide.

No other official statements have been released by either company at press time. American Rifleman will continue to monitor the situation and post updates as they are available.

Latest

Horman Ar10takedown 3
Horman Ar10takedown 3

Building A Takedown Pistol In .308 Win.

With the large amount of components available for the AR-10 platform, along with a new trend of more compact AR pistols, constructing your own foldable, compact, takedown AR-10 pistol is possible.

Kahr Arms To Host Annual Rod of Iron Freedom Fest

Kahr Firearms Group is hosting this year’s “Rod of Iron Freedom Festival” at its Greeley, Penn., Kahr Headquarters facility.

Mossberg Maverick 88: Mossberg's Budget-Priced Pump Shotgun

The Maverick 88 is one of Mossberg's best known shotgun models and is currently available in 14 different versions.

The Men And Guns Of D-Day: 82nd Airborne Division

Watch this segment of American Rifleman Television "The Men And Guns Of D-Day" to learn more about the men of the 82nd Airborne Division, their stories and the firearms they used during "The Great Crusade."

MidwayUSA Grants $2.3 Million To Help Youth Shooting Teams

The MidwayUSA Foundation recently announced the payout of more than $2.23 million in cash grants to 612 youth shooting teams.

Review: Bond Arms Roughneck

The Roughneck derringer from Bond Arms is an entry-level option in 9 mm Luger, but don’t let that fool you, as the quality of its materials and craftsmanship rival those of the company’s top-end variants.

Interests



Get the best of American Rifleman delivered to your inbox.