Czech weapons manufacturer acquires Colt

The Czech  small arms manufacturer Ceska Zbrojovka Group acquires the US American competitor Colt.

The purchase price is US$220 Mill. US-Dollar in cash, plus more than one one million shares.

The Czech company gains the military and police supply business, as well as legendary brands like Colt and Peacemaker.

Founder Samuel Colt made the revolver popular.

Ceska Zbrojovka Group is a former government owned company.