Cerberus to sell Freedom Group, maker of gun used in Newtown massacre

[ikari2_2000]

Freedom Group’s origins date to 2006, when Cerberus acquired Bushmaster Firearms. The firm then consolidated the fragmented gun industry, acquiring at least six other brands and rolling them into one company to create Freedom Group, which is based in Madison, N.C.

Other brands under the Freedom Group umbrella include Remington Arms, the country’s largest and oldest maker of rifles; Marlin Firearms, a manufacturer of lever-action rifles; and Advanced Armament, a maker of pistol silencers.

Cerberus to Sell Freedom Group, a Gun Maker - NYTimes.com




.

Read More

 

[Dan-Dee Sales Inc]

Yep. Freedom group has some great Companies under them. Shame

 

[sl98023r]

I think it's great that Cerberus is selling. I'm betting they won't get all that good of a price but that the new owners also won't be afraid of their own shadow.

Cerberus was the investment company who bought Chrysler several years ago and then GMAC from GM to finance the cars. When they needed to put more money into Chrysler, which they had in abundance, they decided it was better to let the company fail. Enter the Federal Government and Fiat to the rescue.

 

[MountainBear]

Does that mean the quality control will go up?

 

[BAMCIS]

All firearms stocks are dropping. My guess is they'll continue to drop until the dust settles.

 

[fd15k]

All firearms stocks are dropping. My guess is they'll continue to drop until the dust settles.

Which ones ? I missed an opportunity to buy some SWHC about a year ago, and it has been growing ever since...

 

[ZigZagZeke]

Cerberus has been a disaster for these companies. I hope Freedom Group is acquired by someone who can run it, knows customer service, and wants to make a profit by selling the best product they can make. Remington, Bushmaster, and the rest have been nearly destroyed by Cerberus and its cost cutting. I sent in a Bushmaster rifle last year for a new barrel. They kept it for 10 months and every time I called about the back ordered barrel they had the same answer, "Next week." When I tried going beyond the obviously disheartened and defeated customer service reps I got uncaring and unavailable management types. I finally got my own barrel and had them send my rifle back to me.

 

[Boomerang]

All firearms stocks are dropping. My guess is they'll continue to drop until the dust settles.

Strange. They should be ramping up production and raking in the $$$.

 

[Mattofsmatt]

The connections with major firearms-industry/Lobby groups and Newtown CT are interesting to say the least. I'm not tilting at windmills here, but the fact that the National Shooting Sports Foundation is headquartered there, plus the Freedom Group's Owner's Father live in the same "small town", makes me wonder about the timing, and locale, of all this. As the article states: "His father, Martin Feinberg, lives in Newtown, Conn., where the shootings occurred." Is it me, or are we seeing a lot of links to firearms industry and this tiny town in CT that prior to last week, nobody had even heard of?