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 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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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.
Chalk up a legal victory for the gun industry. The U.S. District Court (Southern District of Ohio) has dismissed, with prejudice, the Primus Group v. Smith & Wesson, et al lawsuit. The decision was delivered October 9, eliminating the plaintiff’s claims against several prominent AR-15 firearms manufacturers, including Smith & Wesson, Remington Arms Company, SIG Sauer, Sturm, Ruger & Company, Colt Manufacturing, and Armalite.
“This decision by the federal judge to dismiss with prejudice this frivolous case is pleasing, if not unexpected,” said Lawrence G. Keane, NSSF Senior Vice President of Government Relations and Public Affairs and General Counsel. “These are lawful and federally-regulated AR-15 modern sporting rifle manufacturers that make semiautomatic rifles for lawful purposes. The judge was absolutely correct to assert that the proper venue to establish public firearms policy is through the legislature and not the courts.”
Primus Group, LLC, is a small entity in Columbus, Ohio with a vague business model. The limited liability company filed suit after the tragic murders in El Paso and Dayton, Ohio. They claimed racketeering, intentional misrepresentation claims, and “a clear and present danger” of all American lives due to “assault weapons”. The modern sporting rifles manufactured and sold by the companies named as defendants are semi-automatic rifles, meaning one round is fired for each trigger pull.
The court found the plaintiffs had no standing to bring the case against the defendants. This decision rightfully asserts that those who purposefully and criminally misuse firearms are the ones who are responsible for those crimes. It further affirms that activist lawsuits to prompt judicial action are not the proper avenue to establish policy.
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Ruger has donated $4,000,000.00 to the NRA-ILA (Institute for Legislative Action), based on Ruger’s pledge to donate $2.00 for every new Ruger firearm sold between the 2015 and 2016 NRA Annual Meetings. Ruger called this the “2 Million Gun Challenge”.
Ruger met the challenge goal of selling two million new firearms, thereby generating a total donation of $4,000,000. Ruger CEO Mike Fifer and President Chris Killoy presented Chris Cox, NRA-ILA’s Executive Director, with a check for $4,000,000 at the 2016 NRA Annual Meetings in Louisville, Kentucky. Cox praised Ruger’s Challenge Program: “The funds raised from this program will help us in both our fight to protect America’s Second Amendment and our effort to educate voters and get them to the polls this crucial election year.”
During the challenge period, one of the largest distributors of Ruger firearms, Davidson’s / Gallery of Guns, also pledged to donate $1.00 for each new Ruger firearm sold through its distributorship. Davidson’s effort added more than $350,000 to the NRA-ILA cause.
Ruger 2 Million Gun Challenge Becomes 2.5 Million Gun Challenge
Both Ruger and Davidson’s have pledged to extend the challenge period through the end of October, to ensure continued support up until the election. Ruger hopes to sell another 500,000 new firearms (by the end of October 2016) with a $2.00 donation per gun. If Ruger meets its challenge, that would generate another $1 million in NRA-ILA donations, for a total of $5,000,000 for the 2015-2016 period.
For more information on the Ruger 2.5 Million Gun Challenge, visit Ruger.com/2Million.
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The good news continues for Sturm, Ruger & Co. (Ruger) which has seen huge gains in its stock price over that past couple of years. Ruger recently reported that first-quarter sales were up 49% compared to the same period in the previous year. That announcement has caused Ruger shares to rise over 6% just today! (Many of us now wish we’d bought some Ruger stock in 2010 — Ruger shares are trading today at 49.38, up from 16.93 two years ago.)
New products such as the Ruger 10/22 Takedown rifle, the Ruger SR22 pistol and the Ruger American Rifle are driving sales growth. Said CEO Michael Fifer, “New product introductions were a significant component of our sales growth as new product sales represented $40.8 million or 37% of sales in the first quarter of 2012.” Ruger’s results again beat Wall Street expectations. Ruger has beaten the Zacks Consensus Estimate in each of the last seven quarters.
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Ruger is introducing a new USA-made bolt action rifle, the Ruger American Rifle (“RAR”). By external appearances, it looks like a Tikka T3 with a Savage Accutrigger. It even has a barrel nut just like a Savage! With a polymer-type synthetic stock, the RAR is light-weight — just 6.25 lbs. with a free-floated, hammer-forged 22-inch barrel (no optics). The RAR will be very affordable — MSRP is just $449.00. Obviously, Ruger hopes to compete with the Savage and Stevens lines of hunting rifles.
Three-Lug bolt, Barrel Nut, and Rotary Magazine
The RAR has some interesting design features. The bolt has three lugs (like a SAKO) with a 70° bolt lift. The action features a full-diameter bolt body and dual cocking cams for easy cycling (watch video below). And yes the RAR uses a barrel nut (like Savage) to secure the barrel to the action (and set headspace). Notably, the RAR comes standard with a rotary 4-round detachable magazine. The receiver comes drilled and tapped from the factory, and scope bases are supplied (but not pre-installed).
Built-in V-Blocks and Adjustable “Lawyer Trigger”
One notable feature of the RAR is a built-in bedding system with twin V-blocks. Ruger’s new patent-pending Power Bedding™ system employs stainless-steel bedding blocks fitted into the stock to positively locate the receiver. You’ll also notice that Ruger has adopted a new Savage-style trigger with a blocking tab on the trigger shoe. This new “Marksman Adjustable Trigger” is user-adjustable between three and five pounds. A tang safety, which can be placed “on safe” while the bolt is cycled, is complemented by a passive, trigger-mounted safety (similar to Savage’s Accutrigger).
It appears that, like the Tikka T3, the RAR has a single action length, designed to handle both medium- and long-length cartridges. Chamberings available initially are: .243 Win (1:9″ tw); .308 Win (1:10″ tw); .270 Win (1:10″ tw); 30-06 Springfield (1:10″ tw). Capacity is four rounds for all chamberings.
In this video, Ruger President/CEO Mike Fifer previews the new Ruger American Rifle…
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“This decision by the federal judge to dismiss with prejudice this frivolous case is pleasing, if not unexpected,” said Lawrence G. Keane, NSSF Senior Vice President of Government Relations and Public Affairs and General Counsel. “These are lawful and federally-regulated AR-15 modern sporting rifle manufacturers that make semiautomatic rifles for lawful purposes. The judge was absolutely correct to assert that the proper venue to establish public firearms policy is through the legislature and not the courts.”
The good news continues for Sturm, Ruger & Co. (Ruger) which has seen huge gains in its stock price over that past couple of years. Ruger recently reported that first-quarter sales were up 49% compared to the same period in the previous year. That announcement has caused Ruger shares to rise over 6% just today! (Many of us now wish we’d bought some Ruger stock in 2010 — Ruger shares are trading today at 49.38, up from 16.93 two years ago.)
