The Keefe Report: The Future of Colt

by
posted on April 21, 2021
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
keefe.jpg (1)

It is the most iconic name in American firearms. It may not be the oldest American gun company—that honor belongs to Remington—but Colt is more than just a factory that makes guns. It is intertwined with the fabric of American society. After all, it was Samuel Colt who introduced the world to the revolver.

It was Colt that helped jump start the American Industrial Revolution and spread the gospel of the American system of manufacturing­­—what we know today as interchangeable parts. This is also the company that armed everyone from Texas Rangers to the U.S. military during two world wars. Colt brought us the Single Action Army, the M1911 and, in the 1960s, the U.S. M16 rifle—and its semi-automatic-only civilian counterpart—the AR-15.

And now it is part of the Ceská zbrojovka Group SE (CZG). As reported last month, CZG was set to acquire Colt Holdings, the parent company of Colt’s Mfg. and Colt Canada, for $220 million and the issuance of 1,098,620 shares of common stock. Since that announcement, I have been bombarded with the question, “Is this good for Colt?” In a word, yes.

Ceská zbrojovka in Uhersky Brod was set up in 1936 to produce arms for the then-new nation of Czechoslovakia. Of course, the Nazis took over the country in 1938, followed by a long stint on the other side of the Iron Curtain. But the Czechs kept innovating, designing the vz. 58 rifle in the late 1950s and the vz. 61 Skorpion machine pistol in 1962. But the gun that put CZ on the map was the double-action 9 mm Luger Model 75, of which even Col. Jeff Cooper was a fan.

When the Berlin Wall came down in 1992, Ceská zbrojovka, a.s., Uhersky Brod was formed as a joint stock company that established CZ-USA in Kansas in 1997, then bought Zbrojovka Brno (the firm that designed the ZB vz. 26 and partnered with the British on the Bren) in 2004. It acquired Dan Wesson of Norwich, N.Y., in 2005, and CZG was formed in 2020.

Colt has struggled over the years, dealing with ups and downs, previous bad management and blunders that led to a contraction that rendered Colt a shell of its past greatness. Aside from military contracts, the catalog was down to Model 6920 rifles and M1911 handguns, and the West Hartford, Conn., company went into Chapter 11 bankruptcy in 2015.

Good leadership, a management team led by Colt President and CEO Dennis Veilleux and Senior Vice President Paul Spitale, positioned Colt to not only emerge from bankruptcy, but to be worth purchasing. Since they took over, every aspect of the company has improved. They have built the company back up one gun at a time, starting with the new Cobra in 2017, followed by the King Cobra and then the Python. I’m also happy to report that, as this is written, a sample of the new .44 Mag. Anaconda is on its way to our offices.

“We’ve been looking for the right owner, and we are very pleased where this ended up,” Spitale told me. Speculation about Colt closing down its Connecticut facility as a result of this transaction is just that. There’s no truth to it. Spitale told me that Colt’s 300 employees will continue to build guns in West Hartford. “We feel privileged and blessed,” he said. “We look at the amount of revenue generated, and the employees have been with us all the way—and we really need to give them credit.”

For the first time in my career, Colt is debt-free. I think Sam Colt himself, who didn’t turn the corner on debt for more than a decade, would be pleased.

Latest

Sellmark Ranch Entrance
Sellmark Ranch Entrance

Sellmark Ranch Opens, Offers Hunting & Shooting Opportunities To The Public

Sellmark Corporation, the parent company of several notable firearm industry brands, opened its 6,800-acre ranch to the public, which provides dedicated hunts, mile-long shooting ranges and more.

CZ Recalls All-American Trap Combo Shotguns

CZ-USA has identified a manufacturing defect affecting the barrel of certain CZ All-American Trap Combo shotguns.

I Have This Old Gun: Japanese Type 94 Pistol

Among the pantheon of World War II military sidearms, the Japanese Type 94 stands out for a number of undesirable reasons. Aside from its ungainly look, many regard it as one of the most dangerous firearms ever made.

New For 2025: GForce Arms 12Hammer

The latest option in the diverse lineup of GForce Arms shotguns is the 12Hammer, an AR-style platform chambered for 12-ga. shotshells that feeds from detachable box magazines.

Tips & Techniques: DIY Fire Bluing

Is there anything prettier than fire bluing? This bright, “peacock” blue color is one of the world’s oldest firearm finishes and can be found on guns dating back as early as the 16th century and is still used on some of today’s high-end custom arms.

Rifleman Q&A: Eddystone Bayonets

"I recently started collecting World War I U.S. military firearms. I want to obtain a Model 1917 rifle made by each contractor—Winchester, Remington and Eddystone—along with bayonets for each. However, I can only locate bayonets made by Winchester and Remington. Why are bayonets made by Eddystone so hard to find?"

Interests



Get the best of American Rifleman delivered to your inbox.