{"id":176954,"date":"2021-02-12T19:43:18","date_gmt":"2021-02-12T16:43:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/iconic-american-gun-maker-colt-sold-to-czech-firm\/"},"modified":"2021-02-12T19:43:18","modified_gmt":"2021-02-12T16:43:18","slug":"iconic-american-gun-maker-colt-sold-to-czech-firm","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/iconic-american-gun-maker-colt-sold-to-czech-firm\/","title":{"rendered":"#Iconic American gun maker Colt sold to Czech firm"},"content":{"rendered":"

“#Iconic American gun maker Colt sold to Czech firm<\/strong>”<\/p>\n

\n

A Czech firearms company has reached a deal to buy Colt, the iconic American gunmaker that helped popularize the revolver.<\/p>\n

\u010cesk\u00e1 zbrojovka Group said it will acquire all of Colt\u2019s business for $220 million and about 1.1 million new shares of the Czech firm\u2019s stock.<\/p>\n

The deal announced Thursday will help \u010cesk\u00e1 zbrojovka, also known as CZG, expand its global customer base as well as its production capacity in the US and Canada, the company says.<\/p>\n

\u201cThe acquisition of Colt, an iconic brand and a benchmark for the military, law enforcement and commercial markets globally, fits perfectly in our strategy to become the leader in the firearms manufacturing industry and a key partner for the armed forces,\u201d CZG president and chairman Lubom\u00edr Kova\u0159\u00edk said in a statement<\/a>.<\/p>\n

The takeover is expected to close in the second quarter of this year pending app<\/a>roval from regulators, according to a news<\/a> release.<\/p>\n

The deal, which CZG will finance with cash and a potential bond issuance, came about five years after Connecticut-based Colt emerged from bankruptcy.<\/p>\n

\"The
The blue dome of the former Colt firearms factory sits atop the Coltsville complex in Hartford, Connecticut.<\/figcaption>
AP\/Bob Child<\/span><\/figcaption><\/figure>\n

Colt traces its roots back to 1836, when inventor Samuel Colt obtained two US gun patents and started his first manufacturing business. The company became famous for churning out revolver pistols and grew to supply the American and Canadian militaries.<\/p>\n

\u201cHaving completed a historic turn-around of the operations and financial performance at Colt over the past five years, this important next step with CZG positions the company to take advantage of significant growth opportunities,\u201d Colt president and CEO Dennis Veilleux said in a statement.<\/p>\n

\"\u010cesk\u00e1
\u010cesk\u00e1 zbrojovka Group is set to acquire all of Colt\u2019s business for $220 million.<\/figcaption>
Daniel Acker\/Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n

CZG has production facilities in the US and the Czech Republic, according to the release. The company says it has about 1,650 employees in those two countries and in Germany.<\/p>\n

With Post wires<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Iconic American gun maker Colt sold to Czech firm” A Czech firearms company has reached a deal to buy Colt, the iconic American gunmaker that helped popularize the revolver. \u010cesk\u00e1 zbrojovka Group said it will acquire all of Colt\u2019s business for $220 million and about 1.1 million new shares of the Czech firm\u2019s stock. The…<\/p>\n","protected":false},"author":1,"featured_media":176955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/colt-firearms-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[92929,88992,61625,70584],"class_list":["post-176954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-12-21","tag-czech-republic","tag-guns","tag-mergers-acquisitions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/176954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=176954"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/176954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/176955"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=176954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=176954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=176954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}