Pennsylvania Firearm Owners Association
Page 1 of 3 123 LastLast
Results 1 to 10 of 23

Thread: CZ buys Colt

  1. #1
    Join Date
    Jan 2012
    Location
    Glen Mills, Pennsylvania
    Posts
    8,144
    Rep Power
    21474854

    Default CZ may be buying colt.

    In other news...... CZ may be buying colt.

    https://www.thefirearmblog.com/blog/...t-acquisition/

    Colt, one of the oldest and most venerable names in US firearms manufacturing may be on the verge of being acquired by one of Europe*s leading brands. *eská Zbrojovka better known as CZ are well regarded for for their classic CZ 75 pistols, their bolt actions and most recently their new assault rifle BREN series as well as the popular CZ Scorpion EVO pistol calibre carbine. The details of any possible CZ Colt acquisition are still unofficial.

    *eská zbrojovka or Czech Armory in English could be about to take over Colt Fireams Mfg., a brand renowned not only for their long revolver lineage, running from Samuel Colt*s percussion revolvers in the 1850s through the Colt Single Action Army to the classic Colt Python and Cobra wheelguns, but also as the company responsible for the Colt 1911 pistol and bringing the M16/AR-15 platform to the fore.

    Colt King Cobra Target Revolver. Note the nice touch of the chamfering towards the front faceof the chambers. Image Credit: Colt.
    CZ informed their investors back in November with a letter of intent that they were launching efforts to acquire *100% of the outstanding equity interest in Colt Holding LLC, a Delaware entity and indirect owner of the Colt Manufacturing Company LLC operating business.* The deal was anticipated to be *ready for execution by the end of 2020.* A number of European news outlets have already reported on the deal including Die Welt in Germany and Echo24 in the Czech Republic.

    On the 9th January CZ issued a statement to its investors giving an update on the progress of the acquisition:

    Prague, 9 January 2021 * CZG * *eská zbrojovka Group SE (*CZG* or *the Group*) further
    to our previous disclosure with respect to the Letter of Intent dated November 5, 2020 for the acquisition of 100% of the outstanding equity interest in Colt Holding Company LLC (*Colt*), CZG hereby informs that it has agreed with Colt on the extension of the exclusivity period to complete its due diligence until the end of January 2021.

    The parties have reached an agreement in principle on key commercial parameters of the transaction and they continue discussing the technical parameters, regulatory review requirements, and legal terms and conditions of the transaction.

    Execution of the definitive documentation for the transaction is estimated to take place by the end of January 2021, subject to completing the negotiations, finalizing the transaction documentation, and obtaining necessary approvals of the relevant stakeholders.

    Assuming achievement of these contingencies, the closing of the transaction would be subject to regulatory approval. Despite this significant progress in the negotiations, no assurances can be made that the transaction will be consummated.

    It would appear that an agreement in principle has been made but key negotiations on certain elements continue. No official announcement has been made by either company at this time.

    Colt, like a number of other US firearms manufacturers have struggled financially in recent years. Back in the summer of 2015 Colt filed for Chapter 11 bankruptcy but emerged before the end of the year. Colt is believed to currently employ over 700 staff and has recently been focused on military contracts for the US Government.
    Proof Armed citizens make a difference. http://forum.pafoa.org/showthread.php?t=316012

  2. #2
    Join Date
    Jun 2009
    Location
    Shamokin, Pennsylvania
    (Northumberland County)
    Age
    31
    Posts
    626
    Rep Power
    6214613

    Default Re: CZ may be buying colt.

    In another era, no way. But given the success CZ has had in recent decades, and almost simultaneous slowing Colt has had, it might not be such a bad thing. They can corner the premium wheelgun market now with DW and Colt.

  3. #3
    Join Date
    Jan 2013
    Location
    Chester County, Pennsylvania
    (Chester County)
    Posts
    4,457
    Rep Power
    21474849

    Default Re: CZ may be buying colt.

    CZ is a well run company that still knows how to make guns the old World way. Good move if it happens.

  4. #4
    Join Date
    Feb 2013
    Location
    Ercildoun, Pennsylvania
    (Chester County)
    Posts
    4,528
    Rep Power
    21474849

    Default Re: CZ may be buying colt.

    Once acquired they should move manufacturing out that blue state hellhole, fire every effing union member and go to a free state and begin manufacturing guns people will buy. American business people are no longer the top of the line, they go to college and learn how to siphon off assets, enrich themselves and run companies into the ground to sell off the real estate and equipment that's owned and move production of a degraded product to china. That what an MBA qualifies you for from an American university.

  5. #5
    Join Date
    Aug 2009
    Location
    bloomsburg, Pennsylvania
    (Columbia County)
    Posts
    1,331
    Rep Power
    21474849

    Default Re: CZ may be buying colt.

    I guess they will be called " Colz"

  6. #6
    Join Date
    Oct 2010
    Location
    Chippewa, Pennsylvania
    (Beaver County)
    Posts
    4,855
    Rep Power
    21474851

    Default CZ buys Colt

    "PRAGUE, Feb 11 (Reuters) - CZG-Ceska Zbrojovka Group said on Thursday it would acquire group Colt Holding Company for $220 million and CZG shares as the Czech gunmaker expands in the larger U.S. market.

    CZG, whose firearms include CZ (Ceska Zbrojovka), Dan Wesson and Brno Rifles, is active already in the United States and building a factory in Little Rock, Arkansas.

    The Czech group said it would acquire 100% in Colt Holding, the parent of Colt’s Manufacturing Company and a Canadian subsidiary, for the cash consideration and 1.099 million pieces of newly issued CZG stock."



    https://www.reuters.com/article/czg-...-idUSL1N2KH3HO
    Life has a melody. Don't wrestle with pigs, don't argue with idiots.

  7. #7
    Join Date
    Jan 2012
    Location
    Glen Mills, Pennsylvania
    Posts
    8,144
    Rep Power
    21474854

    Default Re: CZ buys Colt

    Talked about here in the almost buying stage.

    https://forum.pafoa.org/showthread.p...highlight=Colt
    Proof Armed citizens make a difference. http://forum.pafoa.org/showthread.php?t=316012

  8. #8
    Join Date
    Oct 2010
    Location
    Chippewa, Pennsylvania
    (Beaver County)
    Posts
    4,855
    Rep Power
    21474851

    Default Re: CZ buys Colt

    Quote Originally Posted by internet troll View Post
    Talked about here in the almost buying stage.

    https://forum.pafoa.org/showthread.p...highlight=Colt
    Nice. Looks official now.
    Life has a melody. Don't wrestle with pigs, don't argue with idiots.

  9. #9
    Join Date
    Jun 2010
    Location
    North Penn area, Pennsylvania
    Age
    61
    Posts
    4,234
    Rep Power
    21474851

    Default Re: CZ buys Colt

    Good news!

    CZ will do the brand proud.

    Any American conglomerate that could/would have bought it would only destroy it like Remington , Marlin , etc.
    I don't speak English , I talk American!

  10. #10
    Join Date
    Jan 2012
    Location
    Glen Mills, Pennsylvania
    Posts
    8,144
    Rep Power
    21474854

    Default Re: CZ buys Colt

    Quote Originally Posted by JustinHEMI View Post
    Nice. Looks official now.
    I*m thinking this is a good thing. Always nice when firearms news is going in the right direction.
    Proof Armed citizens make a difference. http://forum.pafoa.org/showthread.php?t=316012

Page 1 of 3 123 LastLast

Similar Threads

  1. Local man buys 200,000 AR's.
    By Hokkmike in forum General
    Replies: 28
    Last Post: February 13th, 2013, 11:41 AM
  2. The US Army Ends Colt Contract, Buys Remington M4s
    By PocketProtector in forum General
    Replies: 15
    Last Post: April 23rd, 2012, 08:32 PM
  3. Remington Buys AAC!
    By Yellowfin in forum General
    Replies: 12
    Last Post: October 7th, 2009, 05:50 PM
  4. Birthday Boy Buys a .22
    By Whiskey Delta in forum General
    Replies: 2
    Last Post: June 21st, 2008, 12:26 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •