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Iconic Colt Becomes Key for Czech Gunmaker’s U.S. Expansion

  • Ceska Zbrojovka CFO sees combined revenue doubling in 5 years
  • Acquistion lifts CZG shares more than 30% to all-time high
Inside The National Rifle Association Foundation Annual Meeting
Photographer: Daniel Acker/Bloomberg
Updated on

Czech firearms producer Ceska Zbrojovka Group SE said the acquisition of rival Colt Holding Company LLC will help it meet rapidly growing demand in the key North American market.

After agreeing last week to buy the almost two-centuries-old manufacturing icon that underwent bankruptcy five years ago, CZG expects the combined annual revenue to double to $1.2 billion by 2025, Chief Financial Officer Jan Drahota said on Monday. The deal will help the Prague-traded company win public contracts in the U.S. and Canada, on top of its already booming sales to civilian customers.