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Old 01-13-2021, 04:51 PM
Herb in Pa Herb in Pa is offline
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Default What's Czech for Colt?????????

Gun manufacturer Colt, an American legend and Connecticut fixture for nearly 175 years, could come under European ownership in a deal being negotiated with a Czech firearms company.

Ceská zbrojovka Group SE, or CZG, which is negotiating to purchase Colt Holding Co., said it has reached agreement on the outlines of a deal with the West Hartford gun manufacturer.

A transaction for 100% of the outstanding equity interest in Colt Holding Co. is not certain, it said. The two companies have agreed to extend to the end of January the review required for due diligence and could approve a deal by then, CZG said.

Terms were not disclosed.

The two sides have reached agreement in principle on “key commercial parameters” and continue discussing other issues such as regulatory review requirements and legal terms and conditions, CZG said.

CZG cautioned that despite “significant progress in the negotiations, no assurances can be made that the transaction will be consummated.”

A representative of Colt did not immediately respond to a phone call seeking comment.

CZG, based in Prague, is a manufacturer of firearms for military and law enforcement, personal defense, hunting, sport shooting and other civilian use.

Colt Defense filed for bankruptcy protection in June 2015 after failing to renegotiate payments to the owners of $250 million in unsecured bonds. Colt Defense, with its headquarters and factory in West Hartford, is the operating company formed by the 2013 merger of Colt Defense LLC and Colt’s Manufacturing Co., which made and marketed non-military guns.

It exited bankruptcy in January 2016 after working out a compromise with bondholders.

Colt received a $10 million loan from the state in April 2017 tied to keeping 615 jobs. The manufacturer of guns sold to the military, police and civilian customers has designed and made firearms in Connecticut since 1847.
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Old 01-13-2021, 05:06 PM
Bill K Bill K is offline
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In ways Colt has changed ownership more than once anyway. CZ taking/buying it, could be a good thing.
And word is they are building a factory in Arkansas to continue building Colt products there, so jobs will stay in the USA and go to Europe.
Time will tell, but maybe this ownership will really boost Colt and it's products and be better in the long run.
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Old 01-14-2021, 10:33 AM
Gerald D. Gerald D. is offline
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CZ's US factory will product several of their Pistols aimed at Law Enforcement and civilian use (P-10 in particular) don't know if the Colt deal was on the radar when they finalized plans to build it. When CZ bought Dan Wesson many lamented it but they've done a very good job producing an exceptional line of 1911's and limited production of their revolvers. Should be good news for a company that's struggled for quite a few years.
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Old 11-02-2021, 02:01 PM
Oso Polaris Oso Polaris is offline
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Default CZ's acquisition of Colt has fallen through

Just saw something in the headlines about the acquisition of Colt by CZ from Vista Outdoors. Looks like the transaction won't be going forward.

https://www.bizjournals.com/kansasci...n-lawsuit.html

To bad, CZ makes a great 1911 under their Dan Wesson line. This might have been last best hope for Colt to return with quality revolvers and to upgrade their legacy 1911's to be competitive with today's 1911 offerings (design/features) of competitors.
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Old 11-02-2021, 04:51 PM
Bill K Bill K is offline
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I guess we will just have too wait and see how this suit proceeds and the outcome in court or a settlement.
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