CZ In Late Stage Talks to Acquire Colt

The Best online firearms community in Louisiana.

Member Benefits:

  • Fewer Ads!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • southerncanuck

    www.RangeSport.com (Use code "BayouShooter")
    Premium Member
    Industry Partner
    Rating - 100%
    62   0   0
    Dec 3, 2019
    839
    63
    New Orleans
    https://www.thetruthaboutguns.com/breaking-cz-in-late-stage-talks-to-acquire-colt/

    Excerpts from the article...

    Apparently struggling since emerging from bankruptcy in 2016, Colt has likely drawn the eye of potential buyers ever since. Now, thanks to CZ (Česká zbrojovka) parent company CZ Group’s public filings, we know it is attempting to purchase all of Colt’s Manufacturing Company‘s assets and is well along in this process.

    Since CZ Group became a public company in mid-2020, listed on the Prague Stock Exchange, we can see in the company’s own corporate filings that it’s deep in due diligence and negotiations for a potential purchase of Colt. In fact, the parties expect to wrap up the deal this month (bold text below added):

    …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.
     

    Bigchillin83

    Well-Known Member
    Rating - 100%
    94   0   1
    Feb 27, 2012
    6,188
    113
    Livingston
    Wow that would be nice!!! CZ is top notch... plus they own dan wesson and if they start pumping out colt 1911’s with dan wesson/CZ quality we might be on to something then... better starry enjoying them single stack low capacity guns again lol
     

    whbonney26

    Well-Known Member
    Rating - 100%
    37   0   0
    Nov 2, 2008
    4,795
    63
    Pearl River, LA
    Been hearing about this for a couple weeks now. May be a good thing. Colt has been kind of stale for a while. CZ is top shelf generally.

    I sure wish these American companies could find ways to stay American companies though at competitive prices.
     
    Top Bottom