Czechia-based Ceska Zbrojovka Group SE (CZG) announced in mid-February its purchase of Colt Holding Company LLC for $220 million and shares. The deal is expected to close in the second quarter.
Colt Holding Company LLC is the parent company of Colt’s Manufacturing Company LLC and, closer to home, Colt Canada Corp., in Kitchener.
According to the Colt news release, that company is a “designated exclusive supplier of small arms to the Canadian military.”
Colt, famous for its revolvers and for production of military firearms, such as the iconic M-16, emerged from bankruptcy protection in 2016, according to a Reuters report.
CZG is best known for CZ guns, but also owns Dan Wesson and Brno.