Ruger, Vista, PSA, Tentative Winners in Remington Breakup
Filings with a federal bankruptcy court in Northern Alabama on Sunday show that Remington as it is currently known will likely be broken up among several successful bidders in the firearms industry.
A 1,498-page Notice of Successful Bidders filed with the court on the morning of Sept. 27, pending a court date later this week, details that America's oldest gunmaker's assets will likely be scattered and absorbed by several other household names.
Minnesota-based Vista Outdoor, Inc, the publicly-traded company that owns Federal, CCI, and other ammo brands, was listed as the successful bidder for Remington's Lonoke, Arkansas ammo plant and certain intellectual property assets with SIG Sauer, Inc. as the backup.
Another publicly-traded company, firearms giant Ruger, is the high bidder for Marlin Firearms, which Remington had purchased along with the H&R and New England Firearms brands in 2007. The bid amount listed in court documents is $30 million, a figure that could put Ruger in the lever-action business. Filings include more than 80 pages of tooling, machines, components, and spare parts needed to produce Marlin firearms as well as related intellectual property, patents, FFLs, domain names, social media pages, and trademarks.
Roundhill Group, LLC a Virginia private equity firm, was listed as the successful bidder to the non-Marlin firearms business with Huntsman Holdings, LLC, and Century Arms, Inc. as the backup bidders. The bid is for the gun factory in Ilion, New York, handgun barrel factory in Lenoir, Tennessee, and related other properties. Trademarks include that of Panther Arms, Halcyon, and Para-Ordnance.
Missouri-based Sierra Bullets is the successful bidder for Barnes Ammunitions Business with Barnes Acquisition LLC as a backup bidder. The bid includes Barnes' Mona, Utah location.
JJE Capital Holdings, the investment company that owns South Carolina-based Palmetto State Armory, is listed as the successful bidder of Remington's recently shuttered DPMS black rifle brand as well as the H&R, Stormlake, and Parker brands. Suppressor-maker AAC, likewise will go to JJE pending court approval.
Speaking of black rifles, Franklin Armory is listed as the successful bidder for the Bushmaster brand. One of the oldest AR-makers in the country, Bushmaster was purchased by Remington in 2006 and has recently been phased out.
In a surprise, retailer Sportsman’s Warehouse, which recently emerged from Chapter 11 bankruptcy protection in mid-2009, is listed with the court as the successful bidder for Remington's TAPCO brand of firearms accessories.
This is a developing story. Check back to Guns.com for more information as it emerges.