Ruger Buys Marlin Assets from Remington for $30 Million
Sturm, Ruger & Company, Inc. (Ruger) announced on 10/2/2020 that its offer to purchase substantially all of the Marlin Firearms assets was accepted by Remington Outdoor Company, Inc. and approved by the United States Bankruptcy Court for the Northern District of Alabama. Ruger will pay the $30 million purchase price from cash on hand at the time of closing, which is expected to occur in October.
“The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up,” said Ruger President and CEO Chris Killoy. “The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings.”
The transaction is exclusively for the Marlin Firearms assets. Remington firearms, ammunition, other Remington Outdoor brands, and all facilities and real estate are excluded from the Ruger purchase. Once the purchase is completed, Ruger will begin the process of relocating the Marlin Firearms assets to existing Ruger manufacturing facilities.
“The important thing for consumers, retailers and distributors to know at this point in time,” continued Killoy, “is that the Marlin brand and its great products will live on. 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.
More Marlin Rifle Photos HERE: Marlin Firearms Facebook Page
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Tags: Lever Rifle, Levergun, Marlin, Marlin Acquisition, Marline Firearms, Remington, Remington Bankruptcy, Ruger, Sturm Ruger
Congratulations Ruger, Marlin, and Remington. We can’t wait to see your offerings. A resurrection of the 39’s would be tremendous, a stainless steel model even more so. TDS and Mountie?
Best,
Gary Loghry
Hope this acquisition will result in restoring the quality Marlin Firearms were once known for. Ruger product quality and customer service is unsurpassed.