Mell Is there going to be a Remington gun company?
You may have heard by now, but recent court proceedings have broken the Remington companies apart. Does this mean that there will no longer be a Remington rifle, shotgun or pistol? Absolutely not. The big news is that Remington firearms will continue. The firearms manufacturing business has been sold to Roundhill Group, LLC. Who is that?
Who is the parent company of Remington ammunition?
JJE is the parent company of Palmetto State Armory. While JJE wanted to buy the Remington ammunition division, it looks like they lost to Vista Outdoors. Stripped and sold for parts basically right before Remington announced their bankruptcy in July, so I expect that is more of a branding buy than anything.
Who are the winners of the Remington auction?
JJE Capital Holdings LLC won DPMS, H&R, Stormlake, AAC and Parker brands Franklin Armory Holdings Inc. won Bushmaster brand and some related assets Sportsman’s Warehouse Inc. won the Tapco brands So that’s a nice list–but we need to take a closer look at each one to really get an idea of what it means.
Who was the founder of Remington and Sons?
E. Remington and Sons was founded in 1816 by Eliphalet Remington in Ilion, New York. The Ilion part is important, as it remains the oldest factory in the United States that still produces the original product the factory and company was founded upon.
When did Remington Outdoor go out of business?
The assets held by Remington Outdoor Company were sold off in bankruptcy court on September 29. The company had been beset in recent years by rocky ownership, legal issues and saddled with debt to the tune of nearly $1 billion according to media reports.
Who is the owner of the Remington ammunition?
The official statement from Vista Outdoor goes like this: “Vista Outdoor is the proud owner of the Remington ammunition and accessories assets. Ownership fits with our mission of bringing the world outside and producing the world’s best ammunition. We also own the rights to the Remington-brand trademark.
When did Cerberus buy the Remington gun company?
The development caps a hunt for buyers to bring in funds to pay off creditors. Cerberus Capital Management had acquired Remington in 2007, and the firearms and ammunition giant accumulated nearly $1 billion in debt. The company said previously that it had $437.5 million in sales last year, about half the business it did in 2016.