COLT is 100 percent CZ

Czech Arms Group SE ("CZG" or "the Group"; PSE: CZG) is pleased to announce today that, after all requirements of U.S. and Canadian authorities have been met, they have successfully completed the 100% acquisition of the Colt Holding Company LLC ("Colt"), the parent company of the US firearms manufacturer Colt’s Manufacturing Company LLC as well as the Canadian Colt Canada Corporation. "With this acquisition, we have created a strategic partnership between CZG and Colt that brings great new opportunities to the entire group," said Lubomír Kovařík, President of CZG. "Colt is extremely pleased with the new partnership with CZG. We are proud of our heritage and believe in the economic success of our company," said Dennis Veilleux, CEO of Colt.

CZG and Colt highlight the newly created synergies in operational as well as economic areas, as well as in development and research. The new company generated around 570 million US dollars in revenue in 2020 and has more than 2,000 employees in the Czech Republic, the USA, Canada, and Germany.

COLT on the Internet: www.colt.com

CZ on the Internet: www.czub.cz