Colt ends 175 years as an American gunmaker with purchase by Czech firearms company

[Elderberry]

American Military News by  Stephen Singer - The Hartford Courant  February 13, 2021

Colt Holding Co. has been purchased by a Czech firearms company, ending a 175-year run as an American company and helping to establish a “small arms powerhouse,” the two companies announced Friday.

It also marks a new chapter for Colt, a one-time financially troubled company that, with its new Czech owner, is now expected to generate $500 million in revenue.

Ceská zbrojovka Group, or CZG, said it signed a definitive agreement to acquire 100% of the shares of Colt Holding Co. LLC, the parent company of Colt’s Manufacturing Co. and its Canadian subsidiary, Colt Canada Corp., for $220 million in cash and more than 1 million shares of the Czech company.

The agreement also calls for potentially issuing up to 1.1 million shares of newly issued CZG stock if defined profit thresholds are achieved between 2021 and 2023.

More: https://americanmilitarynews.com/2021/02/colt-ends-175-years-as-an-american-gunmaker-with-purchase-by-czech-firearms-company/

[Elderberry]

This is the only Colt I own:

[mountaineer]

Our gun club is raffling off a CZ Bobwhite G2 20 gauge in a few weeks. I assume it's a good gun.

[Elderberry]

A Review on their 28 Ga. 20 should be comprable.

https://www.shootingtimes.com/editorial/cz-usa-bobwhite-g2-doublebarrel-shotgun-review/375939

CZ-USA Bobwhite G2 Double-Barrel Shotgun Review

Classy and affordable, CZ-USA's 28-gauge Bobwhite G2 side-by-side is one of the best gateways to shooting a sub-gauge upland shotgun.

May 04, 2020 By Joseph von Benedikt

America’s favorite Czech gun company recently reintroduced its sleek little Bobwhite double-barreled shotgun. Dubbed the G2, it’s “back by popular demand,” according to the company.

Why the need for this particular side-by-side? Well, first, any hunter with a modicum of taste has a thing for a good side-by-side field gun. Yes, that’s an unequivocal statement, and I’m unwilling to moderate it. Second, the Bobwhite G2 ticks all the classy-configuration boxes.

It has an English-style straight-grip stock, which I believe is an uncompromisable element of a proper side-by-side. Further, it has two triggers, unlike the “modern” single-trigger travesties that masquerade as a double-barrel field piece. And many other virtuous characteristics grace the Bobwhite G2. I’ll get to those shortly.

[mountaineer]

I'll probably end up buying all the raffle tickets I'm supposed to be selling. If I win, it will be a nice gift for someone.

[Elderberry]

Czech firearms manufacturer to leave number of jobs unchanged at Colt after acquisition

American Military News by Stephen Singer - The Hartford Courant February 17, 2021

https://americanmilitarynews.com/2021/02/czech-firearms-manufacturer-to-leave-number-of-jobs-unchanged-at-colt-after-acquisition/

A Czech firearms manufacturer buying Colt Holding Co. is delaying plans for a new production site in Arkansas as it focuses on its Connecticut acquisition, but has no immediate plans to increase the West Hartford workforce of 300, a top executive said Monday.

Jan Drahota, vice-chairman of the board of CZG–\u010ceská zbrojovka Group, said at a news conference the company had been looking for another production base in the U.S. and settled on a site in Little Rock, Arkansas.

With the purchase of Colt for $220 million in cash and more than 1 million shares of the Czech company, valued at $20.3 million as of Monday, CZG will instead focus on Colt’s West Hartford site and Colt Canada Corp., the company’s Ontario subsidiary.

CZG is putting off the Little Rock project for three to five years, depending on market conditions, Drahota said.

“Colt is a big undertaking,” he said. “We decided to postpone construction in Little Rock to dedicate our resources in Connecticut and Canada.”

It’s “too early to speak” about increasing the workforce, he said.

[sneakypete]

They won't be increasing the workforce. They will be getting rid of the overpaid union workers with all their costly benefits. Chances are most of them are the children and grandchildren of Colt union workers,and have jobs that pay them for just showing up.

Once they get rid of the deadwood,they can start over.