![]() Sales were $437.5 million in 2019, about half what the business did in 2016.Ĭerberus Capital Management had acquired the 200-year-old gunmaker in 2007, and the firearms and ammunition giant accumulated nearly $1 billion in debt. The Huntsville, AL company filed for Chapter 11 bankruptcy protection in late July.ĬOVID-19 and civil discord have Americans stocking up on guns and ammunition, but Remington was short of funds despite having erased hundreds of millions of dollars in debt in a 2018 bankruptcy. The auction is the culmination of Remington’s second bankruptcy of recent years. Bankruptcy Court in Decatur, AL, to consider approval of the auction results. In all, sales of Remington’s ammunition- and weapons-manufacturing business, the Remington brand and others will bring in at least $155 million to be applied against the company’s debts. Nevada’s Franklin Armory will acquire the Bushmaster brand and some related assets for an undisclosed amount.Sportsman’s Warehouse is getting the Tapco black rifle accessory brand for an undisclosed amount and.JJE Capital also owns Palmetto Outdoors Shooting Facility and Lead Star Arm JJE Capital Holdings LLC, a private-equity firm based in Columbia, SC, is buying the recently shuttered DPMS black rifle brand as well as the H&R, Stormlake, Parker and AAC brands for an undisclosed amount.Huntsman Holdings, LLC and Century Arms, Inc. Roundhill Group LLC is paying $13 million for Remington’s non-Marlin firearms operation.Long Range Acquisition LLC was listed as a backup bidder will acquire Remington’s Marlin firearms business, for $30 million. Barnes Acquisition LLC was listed as a backup bidder ![]() Sierra Bullets, which is owned by Clarus Inc., won the bidding for Barnes Bullets, another part of Remington’s ammunition business, with a $30.5 million offer.Vista Outdoor will purchase Remington’s Lonoke ammunitions business and certain IP assets for $81.4 million.Remington Outdoor will be broken up and sold after a multiday bankruptcy auction with Vista Outdoor, Sierra Bullets, Sturm Ruger and Sportsman’s Warehouse among the successful bidders.Ī court filing listed the winning bidders along with backup bidders for larger assets sold should the winning bidder be unable to consummate the deal ![]()
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