Remington Sold
- Thread starter Salty
- Start date
From The Campfire:
Remington Arms Company, Inc. one of the nation's oldest continually-operating firearms companies, is being acquired by an affiliate of Cereberus Capital Management, L.P. The $370 million dollar acquisition includes the assumption of all of Remington Arms Company, Inc.'s liabilities and product lines.
Remington CEO Tommy Millner released a statement characterizing the transaction as "an acknowledgment of the Remington tradition, its strong brand, and the excellent products built over 191 years…"
The acquisition gives Cereberus two gun companies, Remington Arms and Bushmaster. Sources familiar with both companies say Remington will quickly add an AR-style rifle platform to complement their M24SWS Sniper Weapon System while Bushmaster will likely add signature branded ammunition and products.
Remington also includes a total line of shotshell, centerfire, rimfire and handgun ammunition and manufacturing under the Remington and UMC brands. For many years, Remington has remained the number one producer of both rifles and shotguns in the US domestic market.
Credit Suisse Securities (USA) LLC provided financing commitment and advisor services to Cereberus in the acquisition, expected to close in June 2007.
We will have complete details and reaction to the acquisition in the Friday, April 6, 2007 editions of The Outdoor and Shooting Wires.
Remington Arms Company, Inc. one of the nation's oldest continually-operating firearms companies, is being acquired by an affiliate of Cereberus Capital Management, L.P. The $370 million dollar acquisition includes the assumption of all of Remington Arms Company, Inc.'s liabilities and product lines.
Remington CEO Tommy Millner released a statement characterizing the transaction as "an acknowledgment of the Remington tradition, its strong brand, and the excellent products built over 191 years…"
The acquisition gives Cereberus two gun companies, Remington Arms and Bushmaster. Sources familiar with both companies say Remington will quickly add an AR-style rifle platform to complement their M24SWS Sniper Weapon System while Bushmaster will likely add signature branded ammunition and products.
Remington also includes a total line of shotshell, centerfire, rimfire and handgun ammunition and manufacturing under the Remington and UMC brands. For many years, Remington has remained the number one producer of both rifles and shotguns in the US domestic market.
Credit Suisse Securities (USA) LLC provided financing commitment and advisor services to Cereberus in the acquisition, expected to close in June 2007.
We will have complete details and reaction to the acquisition in the Friday, April 6, 2007 editions of The Outdoor and Shooting Wires.
- Location
- South Cariboo, B.C.
I'm surprised no one has replied on this thread as of yet.
I thought at first before opening it that it should be in the Classifieds also.
I found this statement interesting.
They fail to mention in the above story that Cerberus has picked up a lot of Remmies dept in this division.
Maybe things are not so successful after all.
http://www.reuters.com/article/bondsNews/idUSWEN615420070405
I thought at first before opening it that it should be in the Classifieds also.
I found this statement interesting.
They fail to mention in the above story that Cerberus has picked up a lot of Remmies dept in this division.
Maybe things are not so successful after all.
http://www.reuters.com/article/bondsNews/idUSWEN615420070405
Alberta Bigbore
CGN Regular
- Location
- Edmonton, Alberta
i hope nothing happens to the quality of the higher end models, as i have big plans to own quite a few of them within this year
Wrong Way
CGN Ultra frequent flyer
I dunno...this could be a good thing. Change on a corprate level can be good. New blood, new ambition, new ideas, new pride. Have any company doing the same-old for 100+ years, and stuff can stagnate.
With remingtons less than innovative product line (or even taking steps backwards as with the Alaskan Ti for example), and inability to keep up with modern shooters needs in the last few years (as compared with savage
), I think some fresh blood may be just what they need.
), I think some fresh blood may be just what they need.
The buyoutof S&W seemed to help it become a more successful company. If the Remington decision results in better, more competitive products with consistent quality control then it will be a good thing.
If not they'll go bust which is probably where they were headed in any event until the buyout occurred.
If not they'll go bust which is probably where they were headed in any event until the buyout occurred.
Alberta Bigbore
CGN Regular
- Location
- Edmonton, Alberta
i just hope they leave some of the models alone like the sendero, vssfII, VSF, CDL, etc etc...
What I find kind of ironic is like Winchester, Remmington just expanded into a controlled round feed line of rifles and right away the companys are both turned on their ear. Winchester closing (or awaiting to reopen sans union as some speculate) and Remmington selling. Did they do this to be more sellable? Or was it just a bad idea?
troutseeker
CGN Ultra frequent flyer
- Location
- Prince George, BC
Last I heard the sale was good for Remington lover's and user's. The first step in production of new rifles will be a super snazy kinda barrel bolt thing that will allow the users to re-barrel their rifles at home! Next up a new trigger assembly called the Accurate-Trigger! It is said that accuracy will improve dramatically for previous Remington models!
Troutseeker
Troutseeker
Back to Dogleg, yes Winchester was at the crf thing for longer but not in a big way until a ways after 1990 but I get your point. Its interesting times in the FA industry. Things normally move saaallllooooww... Who would have thought a few decades ago that the 'big two' (Remy Winnie) would be on the ropes, and some weirdo outfit from Finland would be absolutely kicking but And that Marlin would be going gangbusters And you could buy a "Weatherby" for entry level $$ or an honest MOA no frills Savage for 3 bills 
Its interesting times in the FA industry. Things normally move saaallllooooww... Who would have thought a few decades ago that the 'big two' (Remy Winnie) would be on the ropes, and some weirdo outfit from Finland would be absolutely kicking but And that Marlin would be going gangbusters And you could buy a "Weatherby" for entry level $$ or an honest MOA no frills Savage for 3 bills Salty said:Winchester closing (or awaiting to reopen sans union as some speculate) and Remmington selling. Did they do this to be more sellable? Or was it just a bad idea?
Change of topic..sorry, but....
I honestly believe Winchester closing the doors on the M70 has alot to do with marketing and business strategy. I suspect once they announced the closure, ALL their stock quickly sold due to high demand, while allowing them to retool to modern equipment (and play out the union contract), with a strategy from the get go to come back with a new and improved M70, that will be again in high demand and increase sales.
I hope.....
As a hardcore Remington fan I'm hoping for the best. It'll be a damn shame to see Big Green go the way of Winchester Here's hoping new managment will be the kick in the pants it needed to but things back on a more even keel. Have to say though, that the latest Remington catalog is one of the best in years, with lots of exciting new models to choose from. I'd hate to see all that diversity lost.
Here's hoping new managment will be the kick in the pants it needed to but things back on a more even keel. Have to say though, that the latest Remington catalog is one of the best in years, with lots of exciting new models to choose from. I'd hate to see all that diversity lost.What is next?
Does anyone get the feeling that the decline of Winchester and now apparently Remington is a harbinger of doom for the industry?
My thought is that guns are going the way of the Dodo. Long established companies seem to be in decline. It reminds me of gunsops in Edmonton after 1991. You could see them disappear one after the other.
Big
Does anyone get the feeling that the decline of Winchester and now apparently Remington is a harbinger of doom for the industry?
My thought is that guns are going the way of the Dodo. Long established companies seem to be in decline. It reminds me of gunsops in Edmonton after 1991. You could see them disappear one after the other.
Big
Alberta Bigbore
CGN Regular
- Location
- Edmonton, Alberta
i heard this way to often in the past few months. could be a good thing. but im happy with the big bad green the way it is.
The buyer is a turn around company.Reading Remington company reports,it has been in trouble for a while. DuPont turned Remington around in the 30s. But it's 2007 and a sunset industry.Besides they have never found another 721,not 600,not 788,certainly not 710.
