Remington Auction Results

[FITASC]

The bankruptcy court still needs to approve the successful bids, but they are as follows:

• Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit A with respect to the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit B with respect to the Lonoke Ammunitions Business;

• Roundhill Group, LLC as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit C with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit D with respect to certain Firearms Business IP assets and Exhibit E with respect to certain non-Marlin Firearms Business inventory, respectively;

• Sierra Bullets, L.L.C. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit F with respect to the Barnes Ammunitions Business; and Barnes Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit G with respect to the Barnes Ammunitions Business;

• Sturm, Ruger & Company, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit H with respect to the Marlin Firearms Business; and Long Range Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit I with respect to the Marlin Firearms Business;

• JJE Capital Holdings, LLC as the Successful Bidder with respect to the DPMS, H&R, Stormlake, AAC, and Parker brands;

• Franklin Armory Holdings, Inc., or its designated assignee, as the Successful Bidder with respect to the Bushmaster brand and certain related assets; and

• Sportsman’s Warehouse, Inc. as the Successful Bidder with respect to the Tapco brand.

[AffordableArmory]

Well that’s gonna be confusing for a while. A brand new Marlin made by Ruger who used to be Remington shooting ammo made by Smith and Wesson or Sig Sauer... or is it a Franklin Armory Bushmaster made by DPMS, again shooting Remi... Smith and Wesson ammo?


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[raddadmike]

Seriously looking forward to seeing what Ruger is going to do with Marlin. This could be a really solid opportunity for us rifle lovers.

['88Scrat]

How THAT could be interesting. One of the few styles of firearms Ruger has yet to venture into is the lever action rifle. I'm sure it would under the Marlin name, bit I'd really be interested in their take on the lever action design.

[Jim Watson]

Do you think the bankruptcy judge will let Vista (Speer, CCI, Federal, Alliant) pick up another brand name in the ammo business? If not, SIG Sauer has apparently been making their own ammo for a while, but in limited calibers.

[FITASC]

How THAT could be interesting. One of the few styles of firearms Ruger has yet to venture into is the lever action rifle. I'm sure it would under the Marlin name, bit I'd really be interested in their take on the lever action design.

Ah, but does Ruger keep the Model 60 or make it die?

[Aguila Blanca]

Originally Posted by FITASC

Ah, but does Ruger keep the Model 60 or make it die?

A valid question.

When Chrysler bought American Motors, the first thing they did was kill off the Jeep Comanche pickup, because it competed head-to-head with the Dodge Dakota.

Years ago, Autodesk (the makers of AutoCAD computer drafting software) bought Generic CADD (a competitor) and immediately killed it off.

I'm sure there have been innumerable other instances of the same sort of thing.

[ghbucky]

Does that mean that Remington is dead?

Or was that auction to pay off debts so it could continue as Remington?

[FITASC]

Remington as it was is gone; the while pie has been divvied up among a handful of other companies

[allenomics]

I'm happy that Ruger may acquire Marlin. Great match up. Ruger attempted to buy Marlin more than a year ago, according to what a Ruger representative told me at an anniversary gun sale in Florida, last November.

[natman]

Originally Posted by ghbucky

Does that mean that Remington is dead?

Or was that auction to pay off debts so it could continue as Remington?

The old Remington is gone. There may still be a Remington firearms business that makes 700s and 870s. There may still be a Remington ammunition business, but they aren't parts of the same business anymore.

It will probably be like when Winchester ammo and Winchester guns split up.

[zincwarrior]

Originally Posted by FITASC

Ah, but does Ruger keep the Model 60 or make it die?

That part is sad. Marlins used to be (at least before Remington) extremely good .22 rifles. Ruger 10/22s were not nearly as accurate or have as good triggers.

[O4L]

Originally Posted by '88Scrat

How THAT could be interesting. One of the few styles of firearms Ruger has yet to venture into is the lever action rifle. I'm sure it would under the Marlin name, bit I'd really be interested in their take on the lever action design.

Ruger has had lever action rifles in the past.

[FrankenMauser]

Ah, but does Ruger keep the Model 60 or make it die?

The thing is... When you own the rights to the two most popular semi-auto 22s, which make up about 80% of the market, you would be absolutely stupid to cut off one of those hands.
I don't think the Model 60 will die.
I think it should. It's a cheap pile of crap that hasn't been well-made in 40+ years. But I don't think it will, unless there's a redesign and a new version released.

How THAT could be interesting. One of the few styles of firearms Ruger has yet to venture into is the lever action rifle. I'm sure it would under the Marlin name, bit I'd really be interested in their take on the lever action design.

The Ruger 96 series would like to have a word with you.

[BarryLee]

Isn't there still a law suit against Remington related to Sandy Hook? Does that go away? I assume these various deals were structured to protect the buyers from liability. Right?

[FrankenMauser]

Those lawsuits are one of the primary reasons why this bankruptcy happened earlier than planned.
A CT judge ruled that the claims filed against Remington could move forward, and was not viewed to be protected by the PLCAA. The investment group running Remington immediately started shuffling assets and debt, in order for the bankruptcy to make it all go away, even if it meant putting Remington in the grave earlier than intended.

[FITASC]

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.

[bamaranger]

I've always perceived "Big Green" as a staple in the firearms world. The 870, the 700, immensely successful. 'Course I suppose the same could have been said about "old" Winchester too.

Remington just recently opened a new facility in Huntsville (AL). They were making 1911's and perhaps others as well. Any word on what will happen in Huntsville?

[bamaranger]

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.

[Aguila Blanca]

Answer my own question. Located a blurb stating Vista got the Huntsville operation, and machinery is being moved even now.

Isn't that a bit premature? Has the court approved the Vista purchase?

[ligonierbill]

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?

[FrankenMauser]

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.

That was always the plan, but it wasn't an immediate death sentence.

[Aguila Blanca]

Originally Posted by FrankenMauser

That was always the plan, but it wasn't an immediate death sentence.

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.

[ballardw]

From Ruger:
September 30, 2020

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."

With the last comment then the lever actions sound like they will continue at least.

[FITASC]

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.

Vista didn't get Huntsville, they got the Arkansas facilities to make ammo; Huntsville makes guns.