Nomercy448

Just more of the same script - TGC’s video is 2 weeks late on the game. JJE Capital made the stalking horse bid on the ammo manufacturing division of Remington, which happens to be the same capital management company which holds PSA. The video also only references the pre-auction bid, which came a week before the scheduled auction... I’ve not yet heard the results, or if the auction did take place as scheduled. So while the bid referenced in the video MAY have been successful, it isn’t public yet, the video title “PSA buys Remington” is disingenuous click-bait.

uncle matt

https://www.nasdaq.com/articles/shou...ess-2020-09-17

this is latest.

Valorius

Not my headline, dont kill the messenger.

Nomercy448

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.

Bocajnala

I've got h&rs dating way back. Have probably owned 50 of them over the last 10 years or so.

But anyway.... Simplify this for a dumby

Will the remington 700 etc continue to be built? Corelokt ammo? Marlin 336s and 1894s and model 60s?

or are these things gone?
-Jake

Nomercy448

It’s a bit difficult to follow, but as I read it, there are divisions listed as “pursuant to the business,” Assets, and IP. Bids on assets alone would signify only purchase of the equipments and locations. IP ownership and acquisition of the complete businesses would imply the ability to sustain manufacturing of given models.

It appears the winning bidders took assets AND IP (business), whereas several of the back-up bidders independently chose IP or Assets. For example, Vista took the ammunition business, whole hog, but Sig as the back-up bidder only appears to have bid for the assets. Round hill bid for the entire firearms business, but the two back-up bidders together would split the assets and IP. Equally, it does appear some of the Brand names were traded - unclear whether that includes the assets, for example, of DPMS.

Interestingly, if approved, Ruger will have right to produce the Marlin 60, meaning they’ll “own” what I expect to be over 90% of the semiauto 22LR market.

Bocajnala

I'm a 10/22 fan personally but have owned model 60s as well. And don't want to see them go anywhere. They're a great little rifle.

-Jake

Nomercy448

Ruger has already officially announced the acquisition AND their strategy for relocating equipment and resuming production of Marlin firearms:

Ruger News: Marlin Acquisition

elkman30

It's better news than initially indicated. I hope Core-Lokt and Remy 700's get to stick around also.

Ericict

Seeing all the consolidation in the industry by investment companies is concerning. I’m glad to see the old names around, but still concerned about non-gun people owning the companies. Investment companies only care about they money and not the name or history.