“Only the rocks live forever.” - “Centennial” by James A. Mitchener
The Remington of September 29th is not the same Remington of September 27th.
In federal bankruptcy court the Remington Arms Company was dissolved into various parts, ending a 204-year stretch of American gun-making history. It is interesting to see who picked up the pieces, which we will examine in a moment.
Seen as being plagued by a number of factors from poor management decisions, to a lack of quality control, to absorption of firearms brands with troubles of their own (think Marlin and H&R), a rush to introduce new products before they were properly engineered (think Remington’s RM380), and Remington became a business model accident waiting to happen.
Coupled with lawsuits. More than a few, too. Not just the one involving the company’s ill-advised advertising campaign for its Bushmaster AR-platform rifle. The rifle that has become a symbol of the anti-Second Amendment crowd following the rampage in 2012 at Sandy Hook Elementary School – a lawsuit series that is still active in the courts.
There also were suits brought against Remington for its fabled Model 700 rifle; that the firearm would discharge upon closing the bolt. More than a few gun magazine writers dismissed this charge as more anti-Second Amendment propaganda intended to make the entire firearms-associated community looked bad.
However, I had one of the Model 700s that would on occasion see the firing pin engage when the bolt was simply closed and the trigger not activated.
It now appears that Remington’s name likely will live on in various forms though not under one family.
It is reported that even with the growing interest in the sales of firearms and associated products, Remington had sales of only $437.5 million in 2019. That figure is about one-half the company’s sales just three years earlier, indicating the huge fall of the once-giant of the industry..
As reported September 28th in various general news sources the breakup goes like this, and according to “SGB Media,” which cited federal court documents (with this writer’s notes included):
●“Vista Outdoor will purchase Remington’s Lonoke ammunition business and certain IP assets for $81.4 million. SIG Sauer was listed as a backup bidder; (Writer’s note: This is the same Vista Outdoors which last year sold off its interest in Savage Arms and Stevens firearms for $170 million but which still owns Federal and CCI brands of ammunition, and Speer bullets);
“Sturm Ruger & Co. will acquire Remington’s Marlin firearms business, for $30 million. Long Range Acquisition LLC was listed as a backup bidder (Writer’s note: Ruger – of course – is one of the most respected and largest firearms makers, and with the acquisition of Marlin that includes its upgraded manufacturing capabilities will be able to enter the lever-action rifle market if it chooses to do so);
“Roundhill Group LLC is paying $13 million for Remington’s non-Marlin firearms operation. Huntsman Holdings, LLC and Century Arms, Inc. were listed as the Backup Bidders (Writer’s note: Almost nothing on the Roundhill Group LLC was found in an Internet search);
“JJE Capital Holdings LLC, a private-equity firm based in Columbia, SC, is buying the recently shuttered DPMS black rifle brand as well as the H&R, Stormlake, Parker and AAC brands for an undisclosed amount. JJE Capital also owns Palmetto Outdoors Shooting Facility and Lead Star Arm (Writer’s note – JJE Capital Holding LLC’s web site on itself reads - “Our focus is on pursuing customers ranging from new or established businesses with significant growth potential, to individual entrepreneurs with an innovative and vetted idea focused on keeping the American dream alive. We work with opportunist of all kinds. Our primary emphasis is to build diversity within our portfolio and provide longevity for all stakeholders.”)
“Sportsman’s Warehouse is getting the Tapco black rifle accessory brand for an undisclosed amount (Writer’s note – Sportsman’s Warehouse itself had been the subject of filing for Chapter 11 bankruptcy protection, this is 2009.)
“Nevada’s Franklin Armory will acquire the Bushmaster brand and some related assets for an undisclosed amount. (Writer’s note – Franklin Armory’s web site says this about itself: “Franklin Armory is a Nevada Corporation that specializes in manufacturing quality firearms for sporting, military, and law enforcement applications.” Remington’s immediate previous owner, Cerberus, ceased production of the Bushmaster earlier this year.)
●“Sierra Bullets, which is owned by Clarus Inc., won the bidding for Barnes Bullets, another part of Remington’s ammunition business, with a $30.5 million offer. Barnes Acquisition LLC was listed as a backup bidder (Writer’s note: Clarus official web site includes this background information - “Clarus' primary business is as a leading developer, manufacturer and distributor of outdoor equipment and lifestyle products focused on the climb, ski, mountain, sport and skincare categories);
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