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CZ To Acquire Colt

$220 Million, Expected Close 2Q/2021

Česká zbrojovka Group SE (CZG – the leading Czech firearms manufacturer), has signed a definitive agreement to acquire 100% of Colt Holding Company LLC, parent company of Colt Manufacturing Company and Colt Canada Corporation, the company announced on 11 February.

Subject to terms and conditions, and to regulatory approval, the cash and stock transaction is expected to close in the second quarter of 2021.  A cash consideration of $220 million (€181 million) is accompanied by 1,098,620 newly-issued CZ shares of common stock. A like amount of shares are set aside for potential earnout considerations over the period 2021-2023.

This merger is a strategic step for both companies. The 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 […] We believe in the successful connection of our corporate cultures, the proven track record of the current management team and the complementary nature of the CZ and Colt brands. The combined group will have revenues in excess of $500 million and presents a real small arms powerhouse. The experience of CZ and Colt management will further strengthen both brands and ensure CZ and Colt continue to deliver top quality products and solutions to all our customers,” commented CZG President and Chairman, Lubomír Kovařík.

Having 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,” added Dennis Veilleux, President and CEO of Colt

With this strategic move, CZG will acquire significant production capacity in the United States and Canada, substantially expanding its global customer base. Colt is a traditional supplier to global military and law enforcement customers, including a 175-year relationship with the US Army and has become a designated exclusive supplier of small arms to the Canadian military.

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