Česká zbrojovka Group (CZG) announced on May 24 it has secured all necessary regulatory approval from the U.S. and Canadian authorities and successfully closed acquisition of 100 percent of the equity interest in Colt Holding Company (Colt)—the parent firm of famed Colt’s Manufacturing Company and Colt Canada Corporation. The purchase began earlier this year, with news first surfacing in February. CZG’s total employee count comes to 2,000 after the acquisition, with staff located in the Czech Republic, United States, Canada and Germany.
“With this acquisition, we have created a strategic relationship between CZG and Colt, which will bring significant opportunities for the group,” said Lubomir Kovarik, chairman and president of CZG. “We will focus on continuing to provide high-quality products to our customers in a seamless manner as we harness the many synergies generated by this acquisition.”
“Colt is pleased to join forces with CZG,” said Dennis Veilleux, president and CEO of Colt. “We are proud of our heritage and believe that the strength of the combined businesses and the many synergies created by the merger will enable us to honor our roots while also securing the future of the Colt brand. We look forward to continuing to deliver our high-quality products while also investing in innovation and new product offerings in the near future.”