This could result in some changes
http://money.cnn.com/news/newsfeeds/articles/prnewswire/NYW02426122007-1.htm
http://money.cnn.com/news/newsfeeds/articles/prnewswire/NYW02426122007-1.htm
Remington buys out Marlin
- Thread starter Killer Kanuck
- Start date
I'm not quite sure what to think about this. With Marling being the only lever gun manufacturer around, what will happen there? If Remington keeps gobbling up gun makers, one day we will be forced to choose between Remington and Remington.
- Location
- The Conservative part of Ontario
Here's the article, to save your clicking
Remington to Acquire Marlin Firearms
Deal positions Marlin and its various brands for growth
December 26, 2007: 04:08 PM EST
MADISON, N.C., Dec. 26 /PRNewswire/ -- Remington Arms Company, Inc. ("Remington" or "the Company") the only manufacturer of both firearms and ammunition for Hunting, Law Enforcement/Security, Government & Military applications in the United States, today announced it has entered into a definitive agreement to acquire Marlin Firearms Company, Inc. ("Marlin"). The transaction is expected to close by the end of January 2008.
Marlin, headquartered in North Haven, Connecticut, also owns Harrington and Richardson (H&R), New England Firearms (NEF) and LC Smith brands of rifles and shotguns.
Tommy Millner Remington's CEO, said, "I am pleased to announce that Marlin's well known brands with a long heritage of providing quality rifles and shotguns to hunters and shooters around the world will join the Remington family. The opportunity to combine two historic U.S. based companies with such storied and proud histories, is both challenging and exhilarating."
"We look forward to working with Bob Behn, a well respected member of our industry. He will remain as president of Marlin, charting a course of further growth and operational improvement," Mr. Millner continued.
Closing of the transaction is subject to certain customary conditions, including regulatory approvals. Credit Suisse acted as financial advisor to Remington with respect to this acquisition. Duff & Phelps Securities, LLC, a unit of Duff & Phelps Corporation , initiated the transaction, assisted in the negotiations and acted as exclusive financial advisor to Marlin.
Frank Kenna III, Marlin's Chairman, said, "Marlin has been a family run business since 1924 and through a number of important steps, we have grown it into the company it is today. We knew it was time to find the right partner for Marlin to ensure our brands maintain their leadership positions and move into the next century."
Mr. Kenna III continued, "We believe Remington's commitment to the industry, shooters and hunters alike, combined with their resources from a manufacturing and sales and marketing position, will reinforce the confidence, hard work and dedication that our employees and management have put into our brands."
Marlin manufactures a wide range of long guns, from the historic Model 39 and 336 rifles, which are the oldest shoulder arm designs in the world still being produced, to the XLR Series, which are the most accurate lever action rifles in the world. Its lever action 22 repeater, now the Model 39, became the favorite of many exhibition shooters, including the great Annie Oakley.
E. Scott Blackwell, Remington's President of Global Sales/Marketing and Product Development, said, "The history of our two companies in innovation and meeting the needs of hunters and shooters around the globe, combined with the opportunity to further develop the Remington, Marlin, H&R, NEF and LC Smith brands, is not only beneficial to the Company and our channel partners, but especially to our end customer. It is these customers and our employees that have contributed to the success and longevity of these brands."
About Remington Arms Company, Inc.
Remington Arms Company, Inc., headquartered in Madison, N.C., designs, produces and sells sporting goods products for the hunting and shooting sports markets, as well as solutions to the military, government and law enforcement markets. Founded in 1816 in upstate New York, the Company is one of the nation's oldest continuously operating manufacturers. Remington is the only U.S. manufacturer of both firearms and ammunition products and one of the largest domestic producers of shotguns and rifles. The Company distributes its products throughout the U.S. and in over 55 foreign countries. More information about the Company can be found at www.remington.com.
About Marlin Firearms, Inc.
Established in 1870, The Marlin Firearms Company's brands include Marlin, Harrington & Richardson, New England Firearms and L. C. Smith. Under its various brands, Marlin produces an array of lever action, bolt action, and semi-automatic rifles, a wide variety of break-open single shot shotguns and rifles as well as muzzleloaders and combo sets. The company maintains a corporate Headquarters and manufacturing plant in North Haven, Connecticut as well as a manufacturing facility in Gardner, Massachusetts.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward looking statements include expectations regarding (i) the proposed acquisition, (ii) the anticipated benefits of the acquisition and (iii) the timing of the proposed acquisition. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the demand for the Company's products, the Company's growth opportunities, and other risks detailed from time to time in the Company's reports filed with the SEC, including its Form 10-K Report for the fiscal year ended December 31, 2006.
The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Al Russo: (336) 548-8572
Remington to Acquire Marlin Firearms
December 26, 2007: 04:08 PM EST
MADISON, N.C., Dec. 26 /PRNewswire/ -- Remington Arms Company, Inc. ("Remington" or "the Company") the only manufacturer of both firearms and ammunition for Hunting, Law Enforcement/Security, Government & Military applications in the United States, today announced it has entered into a definitive agreement to acquire Marlin Firearms Company, Inc. ("Marlin"). The transaction is expected to close by the end of January 2008.
Marlin, headquartered in North Haven, Connecticut, also owns Harrington and Richardson (H&R), New England Firearms (NEF) and LC Smith brands of rifles and shotguns.
Tommy Millner Remington's CEO, said, "I am pleased to announce that Marlin's well known brands with a long heritage of providing quality rifles and shotguns to hunters and shooters around the world will join the Remington family. The opportunity to combine two historic U.S. based companies with such storied and proud histories, is both challenging and exhilarating."
"We look forward to working with Bob Behn, a well respected member of our industry. He will remain as president of Marlin, charting a course of further growth and operational improvement," Mr. Millner continued.
Closing of the transaction is subject to certain customary conditions, including regulatory approvals. Credit Suisse acted as financial advisor to Remington with respect to this acquisition. Duff & Phelps Securities, LLC, a unit of Duff & Phelps Corporation , initiated the transaction, assisted in the negotiations and acted as exclusive financial advisor to Marlin.
Frank Kenna III, Marlin's Chairman, said, "Marlin has been a family run business since 1924 and through a number of important steps, we have grown it into the company it is today. We knew it was time to find the right partner for Marlin to ensure our brands maintain their leadership positions and move into the next century."
Mr. Kenna III continued, "We believe Remington's commitment to the industry, shooters and hunters alike, combined with their resources from a manufacturing and sales and marketing position, will reinforce the confidence, hard work and dedication that our employees and management have put into our brands."
Marlin manufactures a wide range of long guns, from the historic Model 39 and 336 rifles, which are the oldest shoulder arm designs in the world still being produced, to the XLR Series, which are the most accurate lever action rifles in the world. Its lever action 22 repeater, now the Model 39, became the favorite of many exhibition shooters, including the great Annie Oakley.
E. Scott Blackwell, Remington's President of Global Sales/Marketing and Product Development, said, "The history of our two companies in innovation and meeting the needs of hunters and shooters around the globe, combined with the opportunity to further develop the Remington, Marlin, H&R, NEF and LC Smith brands, is not only beneficial to the Company and our channel partners, but especially to our end customer. It is these customers and our employees that have contributed to the success and longevity of these brands."
About Remington Arms Company, Inc.
Remington Arms Company, Inc., headquartered in Madison, N.C., designs, produces and sells sporting goods products for the hunting and shooting sports markets, as well as solutions to the military, government and law enforcement markets. Founded in 1816 in upstate New York, the Company is one of the nation's oldest continuously operating manufacturers. Remington is the only U.S. manufacturer of both firearms and ammunition products and one of the largest domestic producers of shotguns and rifles. The Company distributes its products throughout the U.S. and in over 55 foreign countries. More information about the Company can be found at www.remington.com.
About Marlin Firearms, Inc.
Established in 1870, The Marlin Firearms Company's brands include Marlin, Harrington & Richardson, New England Firearms and L. C. Smith. Under its various brands, Marlin produces an array of lever action, bolt action, and semi-automatic rifles, a wide variety of break-open single shot shotguns and rifles as well as muzzleloaders and combo sets. The company maintains a corporate Headquarters and manufacturing plant in North Haven, Connecticut as well as a manufacturing facility in Gardner, Massachusetts.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward looking statements include expectations regarding (i) the proposed acquisition, (ii) the anticipated benefits of the acquisition and (iii) the timing of the proposed acquisition. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the demand for the Company's products, the Company's growth opportunities, and other risks detailed from time to time in the Company's reports filed with the SEC, including its Form 10-K Report for the fiscal year ended December 31, 2006.
The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Al Russo: (336) 548-8572
- Location
- The Conservative part of Ontario
I don't like it. It gives Remington even a bigger share of the firearms market, and that makes the firearms market that much easier to control.
Further, I fear what Remington, famous for the mighty 710 will do to Marlins rifles.
Further, I fear what Remington, famous for the mighty 710 will do to Marlins rifles.
troutseeker
CGN Ultra frequent flyer
- Location
- Prince George, BC
Quick! By a Marlin now before they become remingcrap!
Troutseeker
Troutseeker
mahony1977
Regular
- Location
- Frelighsburg Qc
Wild_Thing
CGN Ultra frequent flyer
- Location
- In the thick of it!
So I am guessing that we'll see a Buckmasters version lever gun replete with camo tupperware furniture and that sps finish.
...laughing to myself as I hear the sound of 1000's of lever gun enthusiasts fighting the vomit reflex.
...laughing to myself as I hear the sound of 1000's of lever gun enthusiasts fighting the vomit reflex.
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Same here, so now my dilemma is to fire or not fire my NIB XLR444???
Remington is one maker I don't own, for now.
Guys,
not to worry. Cerberus purchased Marlin, not Remington. And they will buy more to own bigger share of the market. Cerberus is for only one reason profit not for tradition, however everyone knows Marlin as lever action maker, so why changing.
They may combine certain procedures, centralize head office, get rid of some workers, create one place to make barrels and so on.
My question is, are they for real, or just for couple years, and then they will sell it to someone who offers better deal.
not to worry. Cerberus purchased Marlin, not Remington. And they will buy more to own bigger share of the market. Cerberus is for only one reason profit not for tradition, however everyone knows Marlin as lever action maker, so why changing.
They may combine certain procedures, centralize head office, get rid of some workers, create one place to make barrels and so on.
My question is, are they for real, or just for couple years, and then they will sell it to someone who offers better deal.
It is not run by Mulroney, he is just a little guy.
Cerberus is a big shark, they borrow money and then try to turn the business around. I don't think they will listen to UN.
UN is broke and is very liberal, they more to the right then left.
PS
My company was acquired by them, and we are not happy.
Lots of lay offs and lots of uncertainty.
