Remington Buyers REVEALED – The Cards have Fallen & are Divvied Up

   09.27.20

Remington Buyers REVEALED – The Cards have Fallen & are Divvied Up

Many consumers are aware that Remington Outdoor, Inc. made the startling announcement back in June that they were filing for Chapter 11 Bankruptcy Protection. This marked the 2nd time in 2 years for the legendary brand. As a result, they were forced to put their bloated brand and all of its assets up for auction. That bidding process is now complete; furthermore, the potential winners have been made public. As Remington being the debtor in this transaction, they have selected the successful bidders (and backup winning bidders) for each of their grouped assets. The court filing in its entirety can be viewed HERE for those who are interested. All of this is awaiting court approval before it can be carved into stone, but the new prospective Remington buyers can be read below:

PLEASE TAKE FURTHER NOTICE that the Debtors, in consultation with their
professionals and the Bid Consultation Parties, selected the following Successful Bids and Backup
Bids:

  • Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit A with respect to the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit B with respect to the Lonoke Ammunitions Business;

  • Roundhill Group, LLC as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit C with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit D with respect to certain Firearms Business IP assets and Exhibit E with respect to certain non-Marlin Firearms Business inventory, respectively;

  • Sierra Bullets, L.L.C. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit F with respect to the Barnes Ammunitions Business; and Barnes Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit G with respect to the Barnes Ammunitions Business;

  • Sturm, Ruger & Company, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit H with respect to the Marlin Firearms Business; and Long Range Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit I with respect to the Marlin Firearms Business;

  • JJE Capital Holdings, LLC as the Successful Bidder with respect to the DPMS, H&R, Stormlake, AAC, and Parker brands;

  • Franklin Armory Holdings, Inc., or its designated assignee, as the Successful Bidder with respect to the Bushmaster brand and certain related assets; and

  • Sportsman’s Warehouse, Inc. as the Successful Bidder with respect to the Tapco brand.

Some of the successful winning bidders seem pretty logical, and depending on your sentiments of certain companies, are pretty exciting. Others conversely make you wonder what the future has in store for many of these stalwart, old, and troubled brands. To simplify those court filings even further this is essentially how the dust settled at the end of the day for all of the Remington buyers:

Most all of the successfully winning bidders and back-up winners are pretty self-explanatory. They are all reputable, industry brands that we have heard of before. The most curious one of the bunch though is JJE Capital Holdings, LLC which happens to be a secret code word for Palmetto State Armory (PSA). PSA is already known throughout the industry for their ability to make high-volume, affordable modern sporting firearms – rifles and pistols. With the addition of brands like DPMS and AAC, which respectively have 30+ years of experience in making AR-15s and related components, that could be cause for a huge spike in PSA’s production, creativity and new models that they bring to market.

With the shifting of so many prominent chess pieces all at once within the firearms industry it will be truly interesting to see what the future holds for all of these brands. Do the new buyers completely dissolve the old names, steal their most popular models, and re-brand them with their name? Will they let certain names like, Remington, live on? Or will they finally bury them once and for all after a decade of mismanagement and over-reaching acquisitions finally did them? Let us know all of your thoughts in the Comments below! We always appreciate your feedback.

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