Freedom Group (Cerberus) Acquires Barnes Bullets
Cerberus Capital Managment, through its Freedom Group holding company, has acquired yet another well-known gun industry company: Barnes Bullets. On December 31, 2009, Freedom Group, Inc. entered into a purchase agreement to acquire certain assets of Barnes Bullets.
In recent years, Cerberus/Freedom Group has acquired Remington, Bushmaster, Marlin, H&R, DMPS and other smaller firearms-related companies. By acquiring Barnes, the Freedom Group gains entry into the ammunition component business at a time when brass, bullets, and powder remain in high demand. As the Freedom Group continues to build a vertically integrated firearms-related mega-corp, one wonders if Cerberus will look to acquire a powder-maker next. Freedom Group already sells Remington-brand factory-loaded ammunition.
Barnes Bullets, located in Mona, Utah, is the industry-leading supplier of copper bullets, including copper-tin composite core bullets. Barnes is a major player in the “lead-free” bullet market. This has become important as lead-core bullets have been banned in many hunting areas, and lead-free bullets are required in many indoor shooting facilities. Barnes Bullets will continue day-to-day operations at Utah facility under the guidance of company founder, Randy Brooks.
Ted Torbeck, CEO of the Freedom Group, Inc. stated: “With the acquisition of Barnes, the Freedom Group continues to demonstrate our commitment to the ammunition business. Barnes offers a premium line of high performance bullets for the hunting and shooting communities; and for law enforcement, military and commercial consumers. We are excited about their R&D capabilities and the breadth of the products they bring to our portfolio.”
Freedom Group is now one of the world’s largest producers of guns and ammo. Freedom Group brands include Remington, Bushmaster, DPMS/Panther Arms, Marlin, H&R, NEF, LC Smith, Parker, EOTAC, AAC, Dakota and INTC. The company distributes its products throughout the U.S. and in over 80 foreign countries. Learn more at www.freedom-group.com.
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