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Iconic Colt Becomes Key for Czech Gunmaker’s U.S. Expansion (1)

Feb. 16, 2021, 9:16 AM

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.

“Our expectation is that there will be growth ...