Long-lived firearms manufacturer Remington Arms has been divided up amidst its bankruptcy auctions which started shortly after its second bankruptcy filing earlier this year with the intent to sell assets. The Remington asset bids have recently been revealed with some surprising results with perhaps some looming consequences for some of the more popular firearms from Remington.
The bankruptcy court filings from the northern district of Alabama reveal what bids have been made and who will be acquiring each specific Remington asset. Here is what we know so far according to the released court documents which you can find in the link above.
A HOUSE DIVIDED: Remington Asset Bids Come to Light
PLEASE TAKE FURTHER NOTICE that the Debtors, in consultation with their
professionals and the Bid Consultation Parties, selected the following Successful Bids and Backup
- 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 Tapcobrand.
It is worth mentioning here that all of these successful bids still need bankruptcy court approval before they officially go through. Remington is the sole entity responsible for selecting the successful bids for each individual asset being sold. It is this writer’s opinion that this is quite possibly one of the most devastating stripping procedures of any singular firearms company assets in recorded history. Remington has been in business for over 200 years and an asset sale of this magnitude is perhaps not unprecedented but shocking to be sure.
Rejuvenation or Firearms Devastation?
So what exactly does this mean for each of the Remington assets being sold off to each company? One of the biggest things from the list above is the potential acquisition of the Marlin firearms brand by Sturm Ruger. The two companies couldn’t be more different in terms of their legacy firearms brands. The first thing that comes to mind is Marlin’s brand of popular rimfire rifles and carbines.
Ruger already has a highly successful rimfire market with items like the long-lived Ruger 10/22 and the newer Ruger Precision Rimfire series of rifles. With the acquisition of the Marlin brand will Ruger completely dominate the entry-level rimfire rifle market?
An even bigger mystery will be what exactly Ruger does with the Marlin firearms designs. Will Ruger adapt the existing marlin designs to fit in with the Ruger line-up? It is my personal hope and feeling that Ruger will have the professional restraint to allow the Marlin brand to live alongside the Ruger line-up and give the customers the choice to pick which design they like. It may turn out that giving their customers an option will not only be a touch of professional courtesy but also a nod to the venerated brand of rifles.
Finally, we have to wonder what will happen to the core brand of Remington firearms products. What will happen to such iconic names like the Remington 700 and Remington 870? Perhaps the 870 police magnum I own will be a thing of the past soon?
Uncertain Times Ahead
There are a number of other interesting potential acquisitions listed in those court documents which may matter more or less depending on where you exist within the firearms world. Personally, I purchase quite a lot of Barnes bullets for some of my wildcat reloading needs, and now that Sierra has them in their sights will that mean they will keep the existing line-up of projectiles or will they drop some in favor of what is more profitable?
I’d be interested to hear your take on these recent Remington asset bids and whether or not they will potentially affect your specific sphere of firearms ownership or if you think this is just another notch on the belt for the list of companies that ebb and flow with the passage of time?