See title here's the story 

https://nypost.com/2021/02/12/iconic-american-gun-maker-colt-sold-to-czech-firm/?utm_campaign=SocialFlow&utm_source=NYPFacebook&utm_medium=SocialFlow&sr_share=facebook&fbclid=IwAR3zgsnWSgkFULO3q_l7NlLNQSTFJMpxYvOMDUagL9KQEdthwXLnN8RsWps

That's just sad but it could've been worse.  CZ is actually not a bad brand.

This story reminds me of budweiser beer, which was originally Czech coincidentally but sadly Budweiser/anheuser busch is a European owned company now as well.

What's next?

I have to say, as a huge Colt AR fan, I’m a little torn on this. 
 

Colt is an iconic American firearms mfg. Without question, they have produced more AR based firearms than anyone in the world, and have the ‘recipe’ for reliability down to a science. They have forgotten more about making ARs than anyone else knows. 
You can buy a prettier AR, with more features these days, but you won’t find one with the same pedigree for reliability than a Colt. 

 

That being said, Colt has been plagued by management problems for decades. They have been ‘owned’ by capitol investment groups that have been milking them for $$, and mismanaging them for years. I believe their growth has been stunted by this, and prevented innovation, and bringing desired products to the civilian market. 
Occasionally we saw glimpses of hope, when Colt released the 6960, the monolithic 694x series, and the LE901 rifles to the civilian markets, but they were always ‘ruled’ by the military contracts. They didn’t put enough effort into the civilian market, and that pissed a lot of people off. 
 

CZ is a great company that produces great products. I’m glad to see that a real firearm company bought Colt. Most likely, they did it to get into US military contracts. 
I hope CZ’s management of Colt improves the shortcomings in the civilian market. 

 

 

Whaooo, never saw that coming

On a positive note, I suspect that maintaining US military contracts will likely require that Colt will have quite a bit of autonomy in US operations.

Better than them going bye-bye completely.

As others have said, CZ makes some great firearms.  The acquisition by CZ could possibly give Colt more exposure in the European markets and the same happens for CZ in the US market.  

What I have a hard time understanding is how Colt sold for a mere 220 million......Less than 1/3 the price of just one B-2 aircraft!

37 minutes ago, JohnnyB said:

What I have a hard time understanding is how Colt sold for a mere 220 million......Less than 1/3 the price of just one B-2 aircraft!

Well also 1.1 million shares of CZ along with the $220m.  

I would've liked to have seen what s&w or ruger could've done with a merger/acquisition with colt...but no way they would be able to catch up to the reputation of any one of the 3 euro brands Sig, HK, Glock...

Colt has been producing firearms for 175 years. I suspect the various models produced over the years have Colt collectors down in their basements right now rubbing their hands with glee. 

 

In other firearm acquisition news, Beretta acquired Holland & Holland earlier this month. 

https://www.internationalsportsman.com/beretta-purchases-holland-holland/

 

2 hours ago, JohnnyB said:

What I have a hard time understanding is how Colt sold for a mere 220 million......Less than 1/3 the price of just one B-2 aircraft!

I was at the Colt factory in the 90s.  Impressive building from the outside.  The factory floor looked like it was from the Civil War.  Plus the Teamsters Union represented the workers.  So unlike the S&W factory I visited about the same time.  S&W had diversified and was producing among other things police bicycles and premium golf club heads.

Colt was trying to survive back in the 90s but was dying.  I'm surprised they lasted so long.