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Remington Arms, founded in 1816, buys Marlin Firearms Co.

Remington Arms, founded in 1816, buys Marlin Firearms Co.

Remington Arms Co. Inc. will acquire Marlin Firearms Co. in a deal that brings together two U.S. firearm companies founded in the 19th century.
Remington, acquired by Cerberus Capital Management in April, will add Marlin's long guns, including shoulder arm designs and lever action rifles. Marlin's lever action .22 repeater, now the Model 39, became the favorite of many exhibition shooters like Annie Oakley, a legendary sharpshooter.
Terms of the deal for the privately held Martin Firearms were not disclosed.
A spokesman for Madison, North Carolina-based Remington would not comment on whether the company plans additional acquisitions. Calls to Cerberus were not immediately returned.
Marlin was founded in 1870 by John M. Marlin, who worked at the colt weapons plant during the Civil War before opening his own shop to manufacture revolvers and derringers.
"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," said Frank Kenna III, chairman of North Haven-based company.
Kenna said Remington's "resources from a manufacturing and sales and marketing position" made the deal attractive.
Under the agreement, Robert Behn will remain president of Marlin. The deal is expected to close in January.
Remington was founded in 1816.
"The opportunity to combine two historic U.S.-based companies with such storied and proud histories is both challenging and exhilarating," Tommy Millner, Remington's chief executive, said in a statement.
The deal will provide both companies access to areas that now are beyond their reach in the $4.1 billion (euro2.8 billion) industry, said Chris Dolnack, senior vice president at the National Shooting Sports Foundation, a trade group.
Remington will be able to tap into Marlin's niche of lever-action rifles and Marlin will be part of a much larger company with a full line of shotguns, ammunition and rifles, Dolnack said.
"I think it's typical of what you see in most industries right now," he said. "There's some consolidation for sure, not only on the firearms side but also in accessories as well."
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On the Net:
http://www.marlinfirearms.com
http://www.remington.com


Updated : 2021-05-11 16:40 GMT+08:00