Colt Acquisition by CZ

In case you were sleeping, Colt has reportedly been acquired by the Česká zbrojovka Group, known as CZG. The New York Post reported the deal, which has CZG acquiring “all of Colt’s business for $220 million and about 1.1 million new shares of the Czech firm’s stock.”

As reported by the newspaper, the “takeover is expected to close in the second quarter of this year pending approval from regulators, according to a news release.”

Colt has made plenty of news over the past couple of years, with the resurrection of “improved” double-action revolver models including the Cobra, King Cobra and legendary Python. The latter has received some very good reviews, with some folks considering it better than the original.

Colt President and CEO Dennis Veilleux issued a statement in which he observed, “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.”

CZG has facilities in the Czech Republic, as well as stateside for its U.S. subsidiary in CZ-USA. CZG also owns Dan Wesson.