By Duncan Smith
In case you missed it, another major piece of Americana just got sold off to a Czech conglomerate: Colt Firearms.
Yes, Samuel Colt’s company, which introduced such iconic brands as the Colt .45 Peacemaker and the Model 1911 .45 automatic (and later, an M-16/AR-15 platform) is no longer an American company.
The Western Journal has more:
The 185-year reign for Colt as a uniquely American company is over after the gun manufacturer announced it was bought this week by a European competitor.
Czech firearms company Ceska Zbrojovka Group purchased the company for $220 million in cash and stock — and ended an American tradition in doing so.
'Subject to the terms and conditions of the definitive agreement, CZG shall acquire a 100% stake in Colt for upfront cash consideration of $220 million and the issuance of 1,098,620 shares of newly issued CZG common stock,' CZG wrote in a news release. 'The agreement also provides for potential earnout consideration of up to 1,098,620 shares of newly issued CZG common stock …'
CZG chair Lubomír Kova?ík commented on the sale, as did Colt CEO Dennis Veilleux. …
Samuel Colt was issued his first patent for a firearm in 1836, according to the Colt's Manufacturing LLC website. In 1847, he collaborated with Samuel H. Walker of the U.S. Army to develop the Walker pistol. The gun, among other early revolving firearms, changed the game at a time when threats were abundant while slow, single-shot firearms were the standard with regard to facing them.
Colt's Manufacturing Company was officially born in 1855 and supplied some of the world's most iconic guns — including firearms used to win some of the 20th Century's conflicts — and also to win the American frontier.
None of those weapons stood the test of time quite like the company's mass-produced M1911 pistol. Chambered with .45 ACP, the gun was used as a sidearm for American military personnel from 1911 until 1985.
'This merger is a strategic step for both companies. The acquisition of Colt, an iconic brand and a benchmark for the military, law enforcement and commercial markets globally, fits perfectly in our strategy to become the leader in the firearms manufacturing industry and a key partner for the armed forces,' Kova?ík said.
'We are proud to include Colt, which has stood shoulder-to-shoulder with the U.S. Army for over 175 years, in our portfolio.'
'We are very pleased with the prospect of such a strategic combination. Having completed a historic turn-around of the operations and financial performance at Colt over the past five years, this important next step with CZG positions the company to take advantage of significant growth opportunities,' Veilleux added.
The America we were born into and taught to love, honor, respect, and nurture is slowly but steadily slipping away. In its place, a country dominated by leftist anarchists and haters whose only really ambition is to destroy the best, and at one time the most successful experiment in self-governance the world has ever seen.
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