Remington Sold Seven Ways as Bankruptcy Proceedings End
Final details are out on how the troubled and historic firearms manufacturer Remington Outdoors, Inc. will be parsed out as bankruptcy proceedings draw to a close.
A federal bankruptcy court in Alabama released documents this week detailing how the various assets, including Remington’s multiple firearms and ammunition brands, will be split up among seven companies, including several well-known firearms manufacturers and some private investment firms.
According to the court records, upon approval of the winning bids at a hearing on September 29, Remington will be divvied up in the following way:
Remington Brand
Vista Outdoor, Inc., the parent company of Bushnell, Federal Ammunition, and a host of other outdoor brands was the successful bidder for Remington’s Lonoke, Ark. ammunition manufacturing plant. This 1,200-acre site houses 750,000 square feet of manufacturing space and is where Remington has produced its ammunition lines. Before the bankruptcy proceedings, this location employed more than 1,200 people. Sig Sauer, which operates an ammunition plant in Jacksonville, Ark., is listed in court documents as the back-up bidder for the Lonoke plant.
“Remington ammunition and accessories have a storied role in America’s sporting heritage, with a legacy dating back to 1816,” said Chris Metz, CEO of Vista Outdoor, which stated in a press release that it is acquiring the Remington brand and trademarks, along with the Lonoke, Ark. ammunition manufacturing plant for $81.4 million. “We are excited and honored to add the iconic Remington brand and green box to Vista Outdoor’s portfolio of ammunition brands, and Remington accessories to our portfolio of Hunting and Shooting Accessories. The Remington brand is beloved by hunting and shooting sports enthusiasts everywhere and we look forward to restoring it to greatness by leveraging Vista Outdoor’s scale, manufacturing infrastructure, distribution channels and Centers of Excellence.
Remington Facilities
Not much information is available for Roundhill Group, LLC, the successful bidders on Remington’s non-Marlin firearms business. Court documents are scant on details as to what is encompassed in the “non-Marlin firearms business” and who, exactly, Roundhill Group is. A google search turned up a similarly-named real estate investment firm based in Round Hill, Virginia. Backup bidders are Huntsman Holdings, LLC, and Century Arms, Inc.
Barnes Bullets
Sierra Bullets, LLC successfully bid on Remington-owned Barnes Bullets. Barnes operates a 75,000 square foot ammunition manufacturing facility in Mona, Utah. There, they produce premium rifle ammunition known as one of the choices for African game hunting. Deleware-based Barnes Acquisition, LLC is listed in court documents as the backup-bidder.
Marlin Firearms
Ruger is the successful bidder on the Marlin Firearms business. America’s largest firearm manufacturer and second-largest pistol and revolver manufacturer will be taking on Marlin’s prestigious lever-action rifle production. The backup-bidder is Long Range Acquisition, LLC an investment firm and owner of Savage Arms and Stevens firearms.
DPMS Panther Arms, H&R, Stormlake, AAC, and Parker Brands
JJE Capital Holdings, a South Carolina-based investment firm, is the winning bidder on the DPMS Panther Arms, H&R, Stormlake, AAC, and Parker brands. DPMS, or Defense Procurement Manufacturing Services Panther Arms, manufactures a wide range of military and civilian rifles and accessories and is based in Huntsville, Ala. Remington took on the H&R line of single-shot shotguns and rifles when it purchased Marlin Firearms in 2007. H&R ceased the production of firearms in 2015. StormLake is the Tennessee-based creator of precision pistol barrels for the 1911, Glock, Springfield XD, and Smith&Wesson M&P model handguns. AAC, or Advanced Armament Corporation, is the Huntsville, Ala. based manufacturer of suppressors and muzzle devices. Finally, Parker is the former manufacturer of a famed and highly collectible line of break-open style action shotguns. Remington acquired the Parker company in 1934 and phased it out of business in 1942.
Bushmaster
Franklin Armory was the successful bidder on the Bushmaster brand. Franklin is a Nevada-based manufacturer that creates a wide range of sporting, military, and law enforcement firearms. The company prides itself at creating products for restrictive jurisdictions, such as California.
Tapco
Online retailer Sportsman’s Warehouse was the successful bidder for the Tapco brand, maker of gun parts and accessories.
Jeremy Mallette is co-founder of International Sportsman. An avid hunter and outdoorsman, he has spent more than a decade in the outdoor industry, from hiking and camping to silencers and hunting. His father taught him to shoot at age six, and he received his first firearm at age eight — a 1942 Colt Commando .38 special revolver. He enjoys yearly trips to Kansas for pheasant hunting, spending time with his children at the deer lease, and collecting unique firearms.