Ruger Completes Marlin Acquistion — New Marlins in Fall 2021
NewsWire: Sturm, Ruger & Co. completes Marlin purchase on 11/23/2020. Ruger CEO says Ruger plans to reintroduce Marlin firearms in latter half of 2021.
Sturm, Ruger & Company, Inc. (NYSE: RGR) announced that the closing of its acquisition of substantially all of the Marlin Firearms assets occurred on Monday, November 23. The agreement to purchase these assets emanated from the Remington Outdoor Company, Inc. bankruptcy and was approved by the U.S. Bankruptcy Court for the Northern District of Alabama on September 30, 2020. The purchase price of approximately $28.3 million was paid by Ruger with available cash.
Chief Executive Officer Christopher J. Killoy noted the excitement that has permeated the firearms industry in anticipation of the confluence of these two iconic firearms brands, “Since we announced the agreement to purchase Marlin in September, we have heard from countless members of the firearms community — consumers, retailers, distributors, writers, and collectors — who are delighted that legendary Marlin rifles are now part of the Ruger product family. We are excited to start moving these assets to our Ruger facilities and setting up the manufacturing cells that will produce Marlin rifles for years to come. We look forward to re-introducing Marlin rifles in the latter half of 2021.”
Previously, in October, Killroy noted: “The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up. The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings. The important thing for consumers, retailers and distributors to know at this point in time is that the Marlin brand and its great products will live on [through Ruger]. Long Live the Lever Gun.”
Marlin History 101 from the Marlin Forum
“Marlin Firearms was founded in 1870, some 144 years ago, by Mr. John Mahlon Marlin. As such, Marlin rifles for generations carried ‘JM’ roll marks on their barrels to designate this homage. Marlin had cut his teeth in Samuel Colt’s factory making revolvers and pistols during the Civil War in Hartford, Connecticut. Then, he broke out on his own, starting a small shop in nearby New Haven.
The company specialized in lever action rifles, such as the M1891, which was updated as the 1893, then the Model 39, and still exists today as the Model 336. After Mr. Marlin died in the early 1900s, the company went from being family-owned to being a corporation, which made machine guns for the Army during World War 1, merged with Hopkins and Allen, then in 1924 went out of business.
It was then that the Kenna family bought what was left of the company for $100 and, for all but a decade, a member of the Kenna family remained the president of the company for the next 83 years. During that time, Marlin registered hundreds of patents including on side ejection lever actions, Micro-Groove rifling, the T-900 Fire Control System, and others.”
More recently, in the year 2000, Marlin acquired Harrington and Richardson (H&R), maker of break-action shotguns and rifles. Then in 2007 Remington bought out Marlin, including H&R.
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Tags: H&R, Lever Gun, Marlin Acquisition, Marlin Assets, Marlin Firearms, Remington Bankruptcy, Ruger, Ruger CEO Killoy, Sturm Ruger
