Announced on Thursday, the Česká zbrojovka Group, or CZG, will acquire a 100-percent stake in the historic Colt’s Manufacturing Company as well as its Canadian subsidiary, the Colt Canada Corporation. CZG has agreed to a cash and stock deal that includes $220 million upfront and the issue of just over 1 million shares of newly issued common stock. The combined group will have annual projected revenues of over $500 million.