Arrow-right Camera
The Spokesman-Review Newspaper

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Cloudy 48° Cloudy
News >  Business

U.S. gun maker Colt bought by Czech company

UPDATED: Fri., Feb. 12, 2021

This photo from 2008 shows a 1932.5 Colt revolver in it's box in Hartford, Conn. Czech firearms company Ceska Zbrojovka has signed a deal to acquire Colt, the American gun maker that helped develop revolvers in the 19th century. (Associated Press)
This photo from 2008 shows a 1932.5 Colt revolver in it's box in Hartford, Conn. Czech firearms company Ceska Zbrojovka has signed a deal to acquire Colt, the American gun maker that helped develop revolvers in the 19th century. (Associated Press)
Associated Press

PRAGUE — Czech firearms company Ceska Zbrojovka has signed a deal to acquire Colt, the American gun maker that helped develop revolvers in the 19th century and has since supplied the armed forces in the U.S. and other countries.

Ceska Zbrojovka Group SE said Friday that it has purchased all the shares in Colt Holding Company LLC, the parent company of Colt’s Manufacturing Company LLC and its Canadian subsidiary, Colt Canada Corp.

The deal is worth $220 million and 1,098,620 newly issued shares in Ceska Zbrojovk and is subject to approval by regulators. The Czech company said it expected the transaction to be completed in the second quarter of 2021.

“With this strategic move, CZG will acquire significant production capacity in the United States and Canada and substantially expand its global customer base,” the Czech company said.

The Czech company has some 1,650 workers in the Czech Republic, United States and Germany.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Active Person

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.