Bankrupt Remington gets $65m offer for ammo business- and the bidder might surprise you (hint: parent co of PSA)

The Heretic

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This sounds like good news to me. I'm not sure if the founders of PSA are involved with the holding company, but I remember reading something a long time ago quoting them as saying that their goal was to make the AR the most common-use rifle in the US. That sort of forward-thinking is exactly what we need by the people running companies in this industry.
 
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The Heretic

The Heretic

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RVTECH

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It appears Vista Outdoors is buying the ammo side of Remington.

This is no doubt a good thing as Vista already owns many big 'names' in outdoor products.

This will no doubt be interesting as the wrinkles get ironed out.

The Ruger/Marlin issue will be the wild card as Ruger certainly bought Marlin for a reason but without a facility to continue production raises some questions.

Then there is Remington. The owner has no background in outdoor/sporting goods and without Marlin, Remington is on thin ice.
 
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Flymph

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There goes any hope that they'll open up the plant and end the furlough for those employees... what a bunch of crap. I was really hoping they would put out some more ammo sooner than later. It's disheartening to see one of the biggest names in the business fall to pieces. At least there are tons of new companies doing a good job with their products, if that's any consolation.
 

gmerkt

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I read through the long paperwork of the bankruptcy sale linked in another thread. Lots of detail. Liquidating a big outfit like Remington is a very involved task.

The City of Huntsville holds a mortgage on the Remington real property there, which makes them a secured creditor. So I'd guess they get to keep the buildings in Huntsville through the bankruptcy proceedings.

Vista Outdoors gets the real property in Lonoke, Ark. And all the ammo-making materials and equipment. I read through the equipment list, lots of industrial stuff for making ammo and components.

Okay, now that Vista will be getting Remington ammo products, that means primers made by CCI, Federal, and Remington are all under their umbrella. Only Win. made by Olin will be separate. Of the US manufacturers.

My feeling is that Rem. primers were the least popular in the reloading components market. In any case, even a temporary closure of that line can only subtract from the availability of product. We can hope that market force opportunities will cause foreign makers to step up and expand their contributions to supply.
 

gmerkt

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It will be interesting to see what Ruger does with Marlin. Much of the remnant Marlin line did not conflict commercially with Ruger's product line. So it wouldn't seem that Ruger bought the Marlin assets in order to kill the brand. Ruger has a history of making things work and make money while doing it.

The bankruptcy documents only contribute to the notion that Marlin was a mess while in Remington's hands. The equipment lists show considerable assets located at two different plants. The lists of parts inventory show tons of small parts, not many major components.

While it was still an independent company, Marlin bought out New England Firearms but kept that line running. When Remington then bought out Marlin, they gradually let NEF (and the revived brand H&R 1871) die out. As we know, under Remington, Marlin was sputtering.

First thing Ruger will have to do is find room for all the Marlin stuff. Somewhere. It would be nice if they would set the Marlin equipment up in its own building, unlike Remington trying to cram it in with existing product lines. Imagine what it will cost to remove, pack, and ship all that stuff.

Roundhill, a property management group, bought the Remington firearms business excluding Marlin. That gets them the Ilion NY properties and a couple in NC. Including all the historic firearms that belonged to Remington. Which includes the museum. They paid $13 million; might be that much value in the historic firearms alone in today's market. I didn't look to see what liabilities went with the purchase.

It wasn't clear to me who owns the Remington brand now. Vista was quoted as having bought the brand with Remington ammunition products. But does that include ownership of the name when applied to firearms? I couldn't ferret that out in my reading of the bankruptcy documents. So, if Roundhill decides to keep making the 1911R1 can they put the name Remington on it without paying a royalty? Which is in question, that part about resuming the manufacture of firearms at Ilion. Meaning, is a real estate investment company going into that business or are they going into break-up mode.
 

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