Pending acceptance and validation of the bidders by the bankruptcy court, the following describes the dismantlement of the Remington brands (naming winning bidders with “back-up bidders” to become the winners should the court determine the respective winners are not eligible):
- 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.
WIBX reporting of Remington Dismantlement
I’m all for the idea of a Ruger built 1894 with a threaded barrel. I don’t expect Franklin will sustain the Bushmaster name, nor will JJE/Palmetto retain DPMS, but I’m glad to think there might be a chance for those workers to keep doing what they do.
Interesting to see H&R fractured from the Marlin business. There is no reason it should have been retained, I suppose, but a lot of us expected it would be, since the two were joined prior to the Freedom acquisition and served such a common market segment. I wouldn’t expect PSA to launch a new line of H&R single shots, but hey, I suppose it could happen. Else, I suppose they simply bought the space and equipment.