One of the most legendary firearms companies in American history is now a subsidiary of a Czech Republic-based corporation.
Česká Zbrojovka Group SE has acquired Colt for $220 million, acquiring a 100% holding of the American gunsmith. Colt is famed as one of the first major manufacturers of AR-15 and M-16 rifles, with the company equipping military service members in Vietnam and subsequent wars. Vietnam veterans in large part were among the first Americans to buy AR-15 rifles as civilians, having become familiar with the family of rifles in the southeast Asia conflict.
Colt had declined in prominence in the American firearms market for one primary reason- they stopped making AR-15s. Colt AR-15’s remain some of the most highly sought rifles by American gun collectors, but the company ceased manufacturing new ones for civilians in 2019, making them for law enforcement and the military only. Many had speculated that Colt made the decision in response to criticism from the gun control lobby.