Czech holding company ČZG bought the American arms company Colt

The arms holding Česká Zbrojovka Group bought the legendary American company Colt. The purchase was for $220 million.

The takeover of Colt fits into the development strategy of the Czech company, which, according to its head, wants to become the world leader in firearms production.

Last year, the Czech gunmakers increased their profits by more than 10% due to the active development of Western markets. Now the group is waiting for orders from the US Army and other security agencies.

Samuel Colt, the founder of the American company, is famous for inventing and patenting the revolver in 1836. In 2015, the company went bankrupt and lost all government contracts in the United States.