Results of Remington Bankruptcy Auction are In, Who Gets What?

H/T AmmoLand.

What does this mean for Remingtons future?

 

U.S.A. –-(AmmoLand.com)- Since filing for bankruptcy back in 2018 gun nerds around the Country, no scratch that around the World, have been waiting with bated breath to find out exactly what happens next with mega firearms manufacturer Remington Arms. Founded in Upstate New York in 1816 by Eliphalet Remington under the name E. Remington and Sons. In over 200 years the company grew into one of the most recognized names in the industry and a literal Behemoth after it was absorbed into the Freedom Group (a subsidiary of the Cerberus Capital Management a 40 Billion Dollar Private Equity Firm ) in 2007, which also owns highly recognizable Firearms names like Bushmaster, DPMS and Marlin. So big is the Remington name that The Freedom Group renamed the conglomerate into Remington Outdoor Company in 2015.

 

Things sort of went downhill fast in recent years, and we can blame that on a combination of over 900 Million dollars of debt, anti-second amendment politics, activist investors, and lawyers seeking big paydays by suing firearms manufacturers for the cowardly actions of evil-doers intent on mass murder. So even in times of high uncertainty and record-breaking gun sales in America, Remington found itself filling bankruptcy for a second time and finally an auction was ordered by the courts. For the last few weeks, lots of rumors have been swirling in the Industry, from one big Investment group buying the whole thing to the Ammo holdings been sold off to one party and the rest to another.

Today I stumbled across the Court Documents online (I’ll include a link and a picture here) from the bankruptcy court speaking to who exactly were the winning bidders and what part of Remington they won!

Results of Remington Bankruptcy Auction:

Results of Remington Bankruptcy Auction

I also made a quick video for the YouTubes that we’ll share here as well as my thoughts on who’s these different groups are among the winning bidders.

  • Vista Outdoor, Inc. is the Successful Bidder of the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder (so if Vista doesn’t want it SIG gets next dibs. [ Vista is also a big player in the Firearms Space with ownership of Federal, CCI, Blazer, Independence, American Eagle, and Bushnell just to name a few Brands]
  • Roundhill Group, LLC is the Successful Bidder of the Non-Marlin Firearms Business and Inventory; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders [ I have no idea what firearms industry brands these guys already have, if you do, let me know]
  • Sierra Bullets, L.L.C. is the Successful Bidder for the Barnes Ammunitions Business; and Barnes Acquisition LLC as the Backup Bidder [ These guys are a rival Ammo manufacturer that have been around since the 1940s]
  • Sturm, Ruger & Company, Inc. is the Successful Bidder the Assets attached to the Marlin Firearms Business; and Long Range Acquisition LLC as the Backup Bidder [ This would be an interesting acquisition for Ruger making them a player in the lever-action market]
  • JJE Capital Holdings, LLC as the Successful Bidder with respect to the DPMS, H&R, Stormlake, AAC, and Parker brands [ OK this is Big News and a big step up for the parent company of Palmetto State Armory one of the fastest going manufactures in the Industry, also these guys are true 2A folks ]
  • Franklin Armory Holdings, Inc., or its designated assignee, as the Successful Bidder with respect to the Bushmaster brand and certain related assets. [ I never even saw this one coming however it’s awesome news for one of the truly Second Amendment Co’s on this list and also a manufacturer that thinks entirely outside of the box when it comes to innovation]
  • Sportsman’s Warehouse, Inc. as the Successful Bidder with respect to the Tapco brand. [ Lets be honest Tapco is known for the best accessories in the game however they do have a big lineup, here’s hoping these guys can upgrade the quality here ]

I hope you guys will take the time to check out my video and leave your thoughts on all these developments, it definitely seems as 2020 is showing no signs of slowing down.

 

 

 

 

 

 

Author: deplorablesunite

I am a divorced father of two daughters. I am a Deplorable.

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