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CZ In Late Stage Talks to Acquire Colt?


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Full article at link...

 

https://www.thetruthaboutguns.com/breaking-cz-in-late-stage-talks-to-acquire-colt/

 

..."Apparently struggling since emerging from bankruptcy in 2016, Colt has likely drawn the eye of potential buyers ever since. Now, thanks to CZ (Česká zbrojovka) parent company CZ Groups public filings, we know it is attempting to purchase all of Colts Manufacturing Companys assets and is well along in this process.

 

Translated from an article in major German newspaper, Die Welt:"...

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  • 8 months later...

Reuters

Reuters said:

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Colt, with plants in the United States and Canada, will give CZG the capacity to expand production beyond its main factory in the Czech Republic and allow it to compete in U.S. military contracts because it will fulfil "Buy America" regulations requiring U.S. production.

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In 2020, the United States accounted for 66% of the Czech gunmaker's annual revenue, mainly sales to individuals and police departments of guns under its CZ (Ceska Zbrojovka), Dan Wesson and Brno Rifles brands.

 

"Colt is an important step in realising our vision of getting to 1 billion (euros) in revenue by the end of 2025," CZG's Chairman Jan Drahota told Reuters in an interview at the company's Prague headquarters.

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CZG is also considering whether to produce some CZG products in the United States, he said, adding there is little overlap with Colt products.

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Buying Colt will also give it exposure to the UK and Canadian militaries, among others, and Drahota said the market will continue to shift to more advanced weapons as demanded by military customers. CZG, which last year took a minority stake in Spuhr i Dalby AB, a Swedish maker of optical mounting solutions for weapons, would also look at further acquisitions, especially in areas like optics or optoelectronics.

 

"We want to grow by acquisitions but we will be disciplined," Drahota said.

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