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 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.
This is a sad story. Remington, America’s oldest continuously-operated gunmaker, has collapsed due to debts and litigation. Through a bankruptcy proceeding, Remington’s product lines and other assets are being acquired by a variety of companies, including Ruger, Vista Outdoor, Sierra, and other large shooting/outdoor industry enterprises. Notably, Ruger will pay $30 million to get the Marlin brand, and Sierra will take over Barnes bullets/ammo business, paying $30.5 million.
The sell-off of Remington assets, specifically product brands, will be going forward through Federal Bankruptcy court, with an order expected Tuesday September 29, 2020. The Shooting Wire reported on 9/28/2020:
Although it won’t be formalized until approved at a hearing scheduled tomorrow (Tuesday, September 29, 2020) in the United States Bankruptcy Court for the Northern District of Alabama, the breakup plan for Remington was filed yesterday. Barring something unforeseen, Remington and its associated companies will be divided among Ruger, Vista Outdoor, Roundhill Group, LLC, Sierra Bullets, Sportsman’s Warehouse, Franklin Armory, and JJE Capital [Palmetto State Armory]. Remington’s Lonoke, Arkansas, ammunition business will go to Vista Outdoor (with SIG Sauer as a backup bid), Sierra Bullets will acquire the Barnes Ammunition interests, Ruger will acquire Marlin, Franklin Armory will assume the Bushmaster brand (and related assets), JJE Capital Holdings will assume DPMS, H&R, Stormlake, AAC, and Parker brands, and Sportsman’s Warehouse will acquire the Tapco brand.
Remington assets will be divided among: Franklin Armory, JJE Capital, Ruger, Roundhill Group, Sierra Bullets, Sportsman’s Warehouse, Vista Outdoor. Roundhill will take over production of Remington firearms which will continue in Ilion, New York.
Remington-owned brands displayed at Remington booth at SHOT Show. Photo by Remington.
Even with surging firearms sales in 2020, Remington Arms Company (Remington) found itself in financial trouble — with overwhelming obligations to creditors and investors. Accordingly, on July 27, 2020, Remington filed for Chapter 11 Bankruptcy — the second time in recent years.
Remington, based in Madison, North Carolina, previously filed for Chapter 11 in March 2018. With major loan reorganizations, Remington “emerged nearly two months later, having converted more than $775 million in debt into equity for its lenders.” (Source: Syracuse.com.) However, despite this debt-restructuring, the company struggled with high interest costs and litigation related to the 2012 Sandy Hook school shooting. The perpetrator had a Bushmaster XM15-E2S rifle sold by Remington.
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Many gun-makers and gear manufacturers have excess inventory. To move product they are offering a variety of incentives — discount coupons, free accessories/upgrades, and cash-back rebates. Here are some of the best gun industry rebates we’ve found. Some of these offers can save you hundreds of dollars on a new firearm. Other deals can deliver free bullets, free magazines, free batteries, or even a free NRA membership.
Purchase any NEW qualifying M&P Full Size, Compact, or M&P Shield Pistol and receive 2 magazines, 2 boxes of ammo, and a Caldwell Mag Charger via Mail-In Rebate.
Expires: September 30, 2017
This unique program allows (1) set of batteries per calendar year, per product and is valid for most Crimson Trace products and battery types. Free Batteries for Life.
Expires: Not Listed
Billion-dollar buyout of Big Green? Will a tech company with digital security/smart-gun technology take over Remington Outdoor Company? This is either the biggest business story of the year in the gun industry, or much ado about nothing — simply a publicity stunt by Global Digital Solutions, Inc. (GDSI).
Here’s the background. On March 11, 2014, GDSI announced that it was offering to acquire Remington Outdoor Company (previously known as Freedom Group), for $1.082 billion in cash plus shares of GDSI common stock. In connection with this offer, GDSI filed a Form 8-K with the SEC regarding three proposed transactions, including an unsolicited letter of intent to acquire Remington Outdoor Company, Inc. (Remington). The Form 8-K can viewed on the GDSE website.
Despite the Form 8-K filing, some observers believe that the GDSI buy-out offer is nothing more than a publicity stunt. According to the Shooting Wire, “Executives with Remington Outdoor Company (Remington) have described yesterday’s … announcement of plans by Global Digital Solutions to acquire Remington as ‘attention seeking in its worst form’.” That doesn’t sound like Remington is giving much credence to the $1.082 billion buy-out offer.
Is this for real? Will a company that has developed RFID tags and “smart-gun” technology acquire Remington, and related brands Bushmaster, DPMS, Marlin, H&R, AAC, Dakota Arms, Para USA and Barnes Bullets? What’s in it for GDSI? For one thing, Remington is generating a lot of cash right now. Remington Outdoor Company has estimated that its net sales for 2013 will be in the range of $1.250 billion to $1.275 billion and that its adjusted EBITDA will be in the range of $235 million to $240 million.
Richard Sullivan, CEO of GDSI, declared there are “powerful synergies” between Remington’s core businesses and the technologies GDSI has developed such as RFID tags and GPS tracking units. As reported on the CNN Money website, Sullivan said that “cyber-based technologies, coupled with enhanced digital product development” will be increasingly important to the military armament industry. That industry, Sullivan added, is “evolving rapidly toward a RFID/WiFi-enabled technology platform.” Remington is ripe for a high-tech overhaul, Sullivan believes: “In this dynamic environment, we see enormous opportunity to consolidate this market with a program of targeted acquisitions, including the proposed Freedom [Remington] transaction. Technological convergence is the future in the cyber/smart arms arena and we’re eager to leverage our proven history of success by helping Freedom and others navigate the transition from analog to digital.”
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The NRA Institute for Legislative Action (ILA) has issued a statement regarding the internet rumors that George Soros in some way controls Cerberus Capital Management, or the Freedom Group of companies. As we have stated in the Daily Bulletin, Soros has no connection to the Freedom Group or Cerberus Capital Management (a holding company that owns the Freedom Group). Claims that Soros is involved in Cerberus or the Freedom Group are 100% false. Here is the NRA ILA statement first issued on October 14, 2011:
From the NRA ILA:
Recently, an old rumor regarding Cerberus–the private equity firm that owns Freedom group, a holding company that in turn owns a number of firearms manufacturers, including Remington, Marlin, Bushmaster, and DPMS–was in some way tied to George Soros.
This rumor is completely false and baseless.
NRA has had contact with officials from Cerberus and Freedom Group for some time. The owners and investors involved are strong supporters of the Second Amendment and are avid hunters and shooters. In reality, at no time has George Soros ever been a part of the ownership group of Freedom Group or Cerberus, and as a privately-traded corporation, there is no possibility that he will be in the future.
This unsubstantiated rumor has caused a great deal of unnecessary concern for gun owners. NRA-ILA urges our members to take great care before repeating baseless rumors[.]
An old rumor has once again resurfaced alleging that Cerberus–the private equity firm that owns Freedom group, a holding company that in turn owns a number of firearms manufacturers, including Remington, Marlin, Bushmaster, and DPMS–is in some way tied to George Soros.
This rumor is completely false and baseless.
Following is a statement from Freedom Group, Inc., addressing the rumor:
Despite rumors to the contrary, Cerberus Capital Management, L.P., the firm which owns Freedom Group. Inc. (FGI), the holding company for such firearms manufacturers as Remington, Marlin, Bushmaster and DPMS, is in NO WAY affiliated with anti-gun activist George Soros.
George Soros has never been a part of Freedom Group or Cerberus. Further, as Cerberus is a privately owned corporation, run by sportsmen, shooters and firearms enthusiasts, we can say with great sincerity and certainty that George Soros will never be a part of the Freedom Group family of companies.
“If anyone should know whether George Soros is affiliated with either Freedom Group or Cerberus, it’s me,” said George Kollitides, Executive Chairman and Chief Executive Officer of FGI. “I spent the last eleven years of my career at Cerberus and just recently stepped down to become executive chairman and chief executive officer of FGI. I did this in order to devote 100 percent of my time, effort and passion to a company I spent years building. I can emphatically proclaim, without the slightest of doubt, that George Soros has never, does not and never will own or be affiliated with Cerberus or Freedom Group.”
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Marlin will produce a new line of affordable bolt-action, rimfire rifles in 2011. Dubbed the Marlin XT Series, the new rifles will be offered in 17 HMR, .22 LR, and .22 WMR, all with a variety of barrel and stock configurations. We’re pleased to see the XT line fitted with Marlin’s signature Micro-Groove barrels which have proven quite accurate in Marlin’s rimfire lever guns. Sorry, no prices have yet been announced, but XT rifles will be priced competitively in the “affordable” market segment.
The good news is that Marlin has fitted a new adjustable XT Pro-Fire® trigger system in the entire XT line. This trigger is user-adjustable from 3 pounds to 6 pounds pull weight, with “virtually zero creep” according to Marlin. A 3-lb pull is acceptable on this kind of rifle. The bad news, in our opinion, is that Marlin has fitted its triggers with a Glock-style “trigger safety” insert that must be pulled back before the trigger can be engaged. The “trigger safety” may please Marlin’s lawyers, but we have found such devices annoying at best, and unreliable at worst. In fairness to Marlin, perhaps it has executed the trigger-shoe safety system in a better fashion than some other manufacturers. Let’s hope so.
17 HMR Version Available with Laminated Thumbhole Stock
Among the many XT offerings, we think the Model XT-17VLB may be the best option for serious varminters. Chambered for the accurate, 2500 fps 17 HMR cartridge, this rifle features a handsome, ergonomic thumbhole stock. The added effective range of the 17 HMR gives the varminter more options in the field. As with other XTs, the receiver comes drilled, tapped and grooved for mounting scopes.
Two New XT Youth Models
Among the new XT offering are two new XT Youth Rifles — the first Marlin rifles designed specifically for younger shooters. The XT Youth rifles feature a shorter length of pull, shorter trigger reach, smaller pistol grip and a raised comb, making it easier for young shooters to maintain the proper sight picture.
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Just days after surprising the firearms industry with the announcement that the Marlin Firearms factory in North Haven, Connecticut would be shut down, executives of Remington Arms today dropped another bombshell concerning the fate of Marlin, a Remington subsidiary. This morning, Remington released a statement declaring that Marlin would be “re-constituted” as a multi-product outdoor gear manufacturer, with a primary focus on fishing tackle and equipment.
In the wake of Remington’s decision to shut down the North Haven plant by mid-2011, laying off all 265 Marlin employees in the process, many questions remained as to the fate of legendary arms-maker Marlin, which has been building firearms in Connecticut continuously since 1870. When the Marlin plant closure was announced, Remington, part of the Cerberus Freedom Group of companies, would neither confirm nor deny that Marlin firearms, particularly the popular lever-action rifles, would still be produced. Sources inside Remington were quoted as saying that Marlin rifle production would be relocated to Remington’s Ilion, New York facilities.
Now it appears that Remington has other, quite radical plans for Marlin, which surely reflect the strategic goals of Remington’s parent, Cerberus Capital Management, a private holding company. Cerberus has no doubt “seen the writing on the wall”, recognizing that gun sales are in a steep decline following the buying frenzy precipitated by the Democratic election victories in 2008. To protect its investment in Marlin, Cerberus saw the need to shift Marlin into a whole new market. That’s certainly a bold strategy, but is it wise?
AccurateShooter.com was able to reach one high-level Remington insider with insights into the latest Marlin transition. Our source confirmed that “most of the Marlin firearms line will survive, but not every product will be staged into production right away. Only the most popular rifles will be transitioned into immediate production at Remington plants in Ilion, New York and elsewhere.” Our source explained that building Marlin rifles outside Connecticut is not easy: “Understand that most of the machines and tooling in North Haven were quite antiquated. It’s not even worth moving most of the big equipment. We have to figure out how to replace that junk before we can start building lever guns again.”
“Marlin’s real focus”, our source continued, “will be the fishing stuff — and that’s where 90% of our resources will be allocated. Our market research shows we can sell more rods and reels, at a higher profit margin, than we can old-fashioned rifles. Demographically, fishing is growing while rifle shooting has become a cultural anachronism — a hobby for old white guys. With the Marlin name and trademark, we realized we had a perfect platform to get into the fishing market. Ask most Americans what a Marlin is… nine out of ten will say it’s a fish, not a rifle. Since most consumers already connect the name Marlin with fishing, it made perfect sense to change the company’s focus. And now’s the perfect time to do it, what with the imminent North Haven plant closure.”
While devotees of Marlin rifles may lament the passing of yet another storied American gunmaker, anglers nationwide, who outnumber rifle shooters by nearly 3 to 1, have reason to celebrate. The “rebirth” of Marlin as a rod, reel, and tackle manufacturer promises to offer fishing enthusiasts a wide range of new products, proudly marketed with the “Made in USA” legend. Shown above is Marlin’s new “Fish Eagle II” Rod and Reel combo, complete with Marlin’s signature lever action. The fishing gear industry is currently dominated by foreign manufacturers. Marlin’s movement into the fishing market gives anglers a chance to “buy American” again.
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Marlin Firearms, now owned by Remington Arms (part of Cerberus Capital Management’s Freedom Group), is going to shut down its North Haven, Connecticut manufacturing facility. This marks the end of a legendary period of gun-making in New England. Marlin has produced firearms in Connecticut since 1870, when the company was founded by John M. Marlin.
A Marlin spokesman indicated that the plant will be closed by June, 2011, and all 265 employees will be terminated via phased lay-offs starting in May, 2010. The Marlin plant closure, announced late Thursday (March 24th), came as a surprise to both Marlin employees and North Haven community leaders. Marlin plant workers reported being “blindsided”. One worker told WTNH Channel 8 that: “We never saw this coming… we were told to attend a mandatory meeting at 3:30… And then boom [that was it].” Remington has not yet issued an official statement about the factory closure, but one insider speculated that the plant was closed to “avoid union wage pressure driving retail cost upward and making the product less competitive in the modern firearms market.”
Marlin is currently head-quartered in Madison, North Carolina. There is no indication that the production of Marlin rifles will be halted — production will likely be shifted to Freedom Group factories in other states. The Shooting Wire reports that: “According to Remington Arms sources, the facility is being decommissioned and the manufacturing relocated to Remington’s Ilion, New York facilities; the Marlin lines are not moving offshore.” The production relocation will apply to Marlin products, and, presumably, to the other brands made by Marlin: Harrington & Richardson, New England Firearms, and L.C. Smith.
Marlin’s founder, John M. Marlin, learned his trade during the Civil war, working at the Colt plant in Hartford, Connecticut. In 1870, according to Marlin’s website, Marlin “hung out his sign on State Street in New Haven, manufacturing his own line of revolvers and derringers.” The Marlin enterprise was purchased by Frank Kenna in 1924, and the Kenna family maintained ownership until Remington acquired Marlin in 2008.
Click Arrow Lower Left to Play Report from WTNH-TV Channel 8 in New Haven:
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Billion-dollar buyout of Big Green? Will a tech company with digital security/smart-gun technology take over Remington Outdoor Company? This is either the biggest business story of the year in the gun industry, or much ado about nothing — simply a publicity stunt by 
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