Front Porch Punditry
»
Patriot's Footlocker
»
Firearms and Ammo
»
Longtime American gun manufacturer Colt sold to Czech firearms company CZG buys pioneer gun firm for $220 million.
Longtime American gun manufacturer Colt sold to Czech firearms company CZG buys pioneer gun firm for $220 million. By Daniel Payne Updated: February 13, 2021 - 11:13am
Bild entfernt (keine Rechte)
The iconic Colt Peacemaker (Sepia Times/Getty)
Colt, the longtime American gun manufacturer whose single-action Peacemaker revolver has been dubbed "the gun that won the West," has been sold to a Czech firearms firm.
"Subject to the terms and conditions of the definitive agreement," the post said, "CZG shall acquire a 100% stake in Colt for upfront cash consideration of $220 million and the issuance of 1,098,620 shares of newly issued CZG common stock."
CZG President Lubomír Kovařík said the merger represented "a strategic step for both companies," and dubbed Colt an "iconic brand" and a "benchmark" gun manufacturer.
Colt has existed under various incorporations for over 160 years, first founded by Samuel Colt in 1855 in Paterson, N.J.
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Fredric Bastiat
During times of universal deceit, telling the truth becomes a revolutionary act.- Orwell