The Down Range Forum

Member Section => Down Range Cafe => Topic started by: Hazcat on April 05, 2007, 02:17:02 PM

Title: Remington Sold
Post by: Hazcat on April 05, 2007, 02:17:02 PM

SPECIAL BULLETIN


From The Outdoor & 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.

Title: Re: Remington Sold
Post by: HBMan on April 05, 2007, 10:08:46 PM

I plead ignorance. Can anyone give some insight to Cerebrus Capital Management. Where are they based and what is thier track record of doing business? When did they acquire Bushmaster and what positive things have they done for Bushmaster?

It is hard to keep up with who is who and who are the good guys in the Corporate world.

Thanks,

HBMan

Title: Re: Remington Sold
Post by: Michael Bane on April 06, 2007, 08:39:36 PM

Cereberus owns Air Canada, Alamo and National car rentals and a big chunk of the rest of the world.

I believe the purchase works well for all of us...check out the blog post here:

http://michaelbane.blogspot.com/2007/04/green-goes-black.html

Michael B

Title: Re: Remington Sold
Post by: HBMan on April 06, 2007, 09:53:46 PM

Sounds like it could very well be a winning combination.

The Remington NAME and hopefully thier ability to get another product out at an acceptable price point SHOULD expose a loyal following and potentially many new entry level buyers for Black rifles thus giving the AR type rifles an even more comfortable spot in the eyes of the shooting world.

While I am always somewhat uneasy whenever a big corporation acquires yet another large brand name to add to its stable I do hope this helps us ALL.

HBMan