Remington Arms, the legendary American gun company, is being sold off to a number of other companies following its long, slow descent into bankruptcy. Fortunately, many of the companies picking up Remington assets are other gun industry leaders in addition to a few holding groups.
Remington has been in a downward spiral for more than a decade, with problems including bad management, legal issues, and quality control and production issues. Despite the company’s status as a household name recognized around the world, Remington was unable to overcome its mismanagement and debt, again falling into bankruptcy earlier this year.
Instead of one company scooping up Remington and its associated brands under one big green umbrella, Remington and the other brands are being parted out to a handful of different companies.
According to documents from the Northern District of Alabama Bankruptcy Court the Vista Outdoor Group will acquire Remington’s Lonoke Ammunitions Business with SIG Sauer as the backup bidder. The Roundhill Group will pick up the non-Marlin Firearms Business with Huntsman Holdings and Century Arms as backup bidders.
Sturm, Ruger & Company will get the Marlin Firearms Business. Long Range Acquisition is the backup bidder for Marlin. Franklin Armory Holding will take the Bushmaster brand and its related assets.
The Advanced Armaments Corporation, DPMS, H&R Firearms, Storm Lake Precision Barrels and Parker Shotguns will go to the JJE Capital Holdings group which owns Palmetto State Armory and PSA Defense.
And Sierra Bullets is set to pick up Barnes Ammunition with a backup bid in from Barnes Acquisition while Sportsman’s Warehouse is in for Tapco.
All of these bids will be heard by the United States Bankruptcy Court for the Northern District of Alabama before they are finalized, so there may be some changes in the final decisions.
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Remington declared bankruptcy in July 2020, with about $175 million in debts. These sales are expected to cover about $155 million of the remaining debt, but they also offer promise for the Remington brands going forward.
While it’s entirely possible that these companies are buying these properties for their remaining assets and intellectual properties, many of these brands are what carry the most weight. It’s one thing to buy Remington or Marlin’s tools. It’s another thing entirely to keep making and selling Remington and Marlin firearms.
With the backing of names like Ruger and Vista, shooters can be hopeful that the Remington legacy is in good hands. Of course, time will have to tell.
The year 2020 has been full of surprises.
Update 9/30/20: Statement from Ruger on Marlin acquisition:
Sturm, Ruger & Company, Inc. 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.”
Wow! With that stable of brands, how did Remington run up that much debt and fold …?
OF all things the NYTimes did a proper expose of how Pirate Equity (Cerberus Cap.) ruined the company – like so many others – and it was all legal. Some of the transactions that occurred SHOULD be illegal! They f_cked over AL, local jurisdictions and the factory workers. Quality suffered and customers were hosed as well. https://www.nytimes.com/interactive/2019/05/01/magazine/remington-guns-jobs-huntsville.html
Who going to have the shotgun line ?
Just as long as Ruger makes the right move and removes that stupid, ugly and useless safety off of their lever guns they will sell millions. And get rid of that gold trigger. I will take a couple of model 39’s and a 45-70 cowboy with the octagon barrel for long range stuff. NO SAFETY BUTTON, that is what the half cock notch is for. I’ll take a 30-30 straight comb stock with no button safety please.
Just don’t cycle the lever after loading and you’re safe. No button needed or half-cock notch. Yeah, that “gold” trigger is just plain stupid, why not a Savage trigger clone instead?
There was just too much quality competition; and that competition proved you could make the same quality for cheaper, and still be an American manufacturer. Bad management is definitely the problem with Remington. I hope the name lives on, because just hearing it, leaves a warm feeling in my heart.
The wife and I carry big 480 Ruger pistols for bear protection in Alaska. 14 years ago Rossi made a companion lever rifle in 480 Ruger that was not well liked, went out of production before most of us knew they existed. I have been pestering Rossi to make more. Been pestering Marlin and Ruger to come out with a 480 Ruger companion rifle. HOPEFULLY – now that Ruger has bought a lever action producing company – they can finally figure out how to make 480 Ruger lever gun!!!!!!!!!!!
I have no idea why gun manufacturer’s are deaf to customers. They will roll out exotic model after exotic model – with 20 different version of the same model – sure it looks great on the wall at Shot Show. But dont we all have several AR’s?? Nobody makes a 480 lever rifle – hmm… I have an idea….. why not make something people are actually asking for?
The first gun I ever shot was a 22 bolt action single shot Remington that belonged to my Grand parents. They lived on a farm in South western Va. deep in the Alleghany Mountain. 65 acres of land with over half of it wooded. This was in the mid and late 60s. I was a kid of 9, 10, 11 or 12. We shot soda cans off a wooden fence post at about 75 yards. 😭😢I miss those days when life was simpler. Since then I have had my own share of guns. But with the house gone and so many people dead its not the same. So its sad to hear Remington has not stood the test of time.😩
Wanna bet my 1946 issued Marlin 39A Lever action will?!😆😅
🤔Hmmm…So Ruger will pickup the Marlin Div. Should kick up the value if my mint conditioned vintage 1946 Marlin 39A Lever action 22 even more!!!😁🤣
No marlin 22 ever out shoots a 1022 Ruger
I have a Marlin 39A Golden I got at 16 in 1959 that will argue that point with you and I also own 2 Ruger 1022’s and owned another 1022.
So, true to form, the CEO(s) that broke Remington will get healthy multi million dollar severance packages and then go on to break other companies…
I love that statement from Killoy, CEO of Ruger. That’s the best thing I’ve heard in months and fills me with at least a glimmer of hope. Long live the lever gun!
What about Remington shotguns? I see Parker shotguns, but not Remington. Who will make their model scatter guns now? Perhaps Remington will continue business just selling a few of the many items they once produced?
Capital acquisition companies (Corporate Raiders” load a purchase (Like Remington) with debt and “servicing” fees It can’t support or pay. After the entity is strangling with that debt, and squeezed dry of revenues they declare bankruptcy and Leave the carcass to be picked over. Nice. For the raiders.
I am happy to see that Barnes bullets will carry on. They are great performers. The XPD line is a great defensive round.
I would sure like to see someone resurrect the remnants of ParaOrd which Remington bought a couple years ago. Anyone know who got the rights to Para?
SO WHO’S MAKING THE PARTS FOR THE GUN LINES? WILL THEY BE MADE IN AMERICA? WHAT BANKRUPTED REMINGTON WAS OVER A HALF BILLION DOLLAR NEW COMPANY HEADQUARTERS. ARE THEY GOING BACK TO BLUING GUNS? ARE THEY GOING TO START MAKING QUALITY FIREARMS AGAIN? ARE THEY GOING TO MAKE FIXED CHOKE BARRELS AGAIN? ALL THESE REASONS ARE WHY THEY WENT BANKRUPT.
They are based in NY state, which is now one of the most anti-gun states, thanks to Big city cluster votes, that don’t represent the rest of the state.
i hope gun industry companies buy it all and move operations to a gun friendly state.
I hate it when I see the great Winchesters models made in foreign countries 94,12,70 and others. I hope I never see that happen to Remington and Marlin.
The Miroku made Winchesters are the best ever. These companies have all been bought and sold many more times than most are aware of. Almost all patents have been expired for decades all the way to 150 years and more. Will Ruger make a better Marlin than Remington? Absolutely. A better Marlin than Marlin? Highly likely.
Is anyone seriously complaining that today’s average AR is not better than those from the original manufacturers? Of course not.
How do I get in on the bid for the cartridge manufacturing tools that Remington has?
Remington Arms was infiltrated by the ant-gun groups in such a way as to destroy it from the top-down/within.
The enemy within is using the same tactics in Washington, DC.
I hope we can stem the blood loss before we go the way of Remington Arms.
I am looking forward to hopefully new manufactured quality model 39’s and maybe expanding the lever action line up. Maybe a run of Marlin/ Hepburn style falling block rifles .
i doubt you will see a model 39,there’s a company i believe in south Dakota that makes model 39’s,they cost about 3400 dollars a piece,if you have a 39,hold on to it,you;ll probably never get another one made today that we can afford.
Ruger wants to manufacture the Marlin 60, they know out of the box Marlin outshoots there 10/22.
Also keep the Marlin Lever actions in production!
Maybe they will bring back the levermatic. Model 57, 57(M) , 62 (30 cal) in various calibers. I have both 57M & 62 (30 Cal). But don’t shoot them. Just a collectors piece for me. Not sure if they are worth much ? Would love to find the 256 Win Mag. And the 57 (22 cal) just to have a set. It has gotten harder to find deals anymore with the scam running rampant.
I worry about Colt and Smith.
Where ante they in this firearm
Economy?
Works for me! Marlin is in good hands with Ruger!
I am sad to see the outcome of Remington! It has been a highly rated company for many years.