CZG – Česká zbrojovka Group SE Announces Closing
of the Acquisition of Colt
Prague, 24 May 2021 – CZG – Česká zbrojovka Group SE (“CZG” or “the Group”; PSE: CZG) today
announced that, after securing all necessary regulatory approvals from the U.S. and Canadian
authorities, it has successfully closed on its acquisition of 100% of the equity interest in Colt Holding
Company LLC (“Colt”), the parent company of the U.S. firearms manufacturer, Colt’s Manufacturing
Company LLC as well as its Canadian subsidiary, Colt Canada Corporation.
CZG and Colt are confident that the merger will bring significant operational, commercial, and R&D
synergies for the combined business, which generated pro-forma aggregated annual sales in excess of
USD 570 million in 2020 and which has more than 2,000 employees in the Czech Republic, the 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. 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.
We are confident that this combination will create value for our customers and shareholders alike and
strengthen these iconic brands,” stated Lubomír Kovařík, Chairman and President of CZG. “This merger
also confirms our commitment to the North American market which is an integral part of our growth
strategy,” he added.
Thanks to this acquisition, CZG gains further production capacity and positions itself to become a
leading firearms manufacturer and a key partner globally for military, law enforcement and commercial
customers.
“Colt is pleased to join forces with CZG. 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 highquality products while also investing in innovation and new product offerings in the near future. We
believe in the successful connection of our corporate cultures, the proven track record of our teams and
the complementary nature of the CZ and Colt brands,” stated Dennis Veilleux, President and CEO of
Colt.
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