Successful bidders and the Remington businesses they are buying:
Vista Outdoor Inc. for its Lonoke ammunitions business and certain IP assets
Roundhill Group LLC for its non-Marlin firearms business
Sierra Bullets LLC for its Barnes ammunitions business
Sturm, Ruger, & Co. for its Marlin firearms business
JJE Capital Holdings LLC for DPMS, H&R, Stormlake, AAC and Parker brands
Franklin Armory Holdings Inc. for Bushmaster brand and some related assets
Sportsman’s Warehouse Inc. for Tapco brands
Remington Bankruptcy in 2018
Remington Outdoor Company has been manufacturing firearm products for close to 200 years now. Remington is best known for manufacturing handguns, shotguns, rifles, and ammunition for a variety of customers, including hunters, military, and police. Cerberus Capital Management is the company which currently controls Remington. It was recently announced that Remington filed for bankruptcy.
The company filed in a Delaware Court less than a week ago. The filing includes a revised plan for getting rid of the $620 million that Remington owes. This would help them payback most of the money they owe to creditors, but they will have to give a majority of the ownership interests in their company to certain lenders. Two of the big lenders here include JPMorgan Asset Management and Franklin Resources Inc.
