ligonierbill
New member
Another interesting bidder is Sierra for Barnes. I use both bullets, but they are about as different as you can get. Is Sierra looking to expand, or to take a new path?
That was always the plan, but it wasn't an immediate death sentence.Actually, Cerebus taking 220+ million out of the company forced the BK; they loaned the money to themselves through one company and paid themselves back with another, leaving Remington holding the bag.
No, it was more like sentencing Remington to death row and then just waiting until all appeals had been exhausted and the death sentence could be carried out.FrankenMauser said:That was always the plan, but it wasn't an immediate death sentence.Actually, Cerebus taking 220+ million out of the company forced the BK; they loaned the money to themselves through one company and paid themselves back with another, leaving Remington holding the bag.
Sturm, Ruger and Company, Inc. (NYSE: RGR) announced today that its offer to purchase substantially all of the Marlin Firearms assets was accepted by Remington Outdoor Company, Inc. and approved by the United States Bankruptcy Court for the Northern District of Alabama. The Company will pay the $30 million purchase price from cash on hand at the time of closing, which is expected to occur in October.
"The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up," said Ruger President and CEO Chris Killoy. "The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings."
The transaction is exclusively for the Marlin Firearms assets. Remington firearms, ammunition, other Remington Outdoor brands, and all facilities and real estate are excluded from the Ruger purchase. Once the purchase is completed, the Company will begin the process of relocating the Marlin Firearms assets to existing Ruger manufacturing facilities.
"The important thing for consumers, retailers and distributors to know at this point in time," continued Killoy, "is that the Marlin brand and its great products will live on. Long Live the Lever Gun."
Vista
Answer my own question. Located a blurb stating Vista got the Huntsville operation, and machinery is being moved even now. The City of Huntsville is attempting to either reclaim the property, or get 10 million bucks back in return. What a mess.
burbank jung said:What happened to Remington? I should read up on it but will ask here. The company is so old, did they try making reproduction vintage rolling blocks and trap doors?