Long Live the Lever Gun! Earlier this week we covered how the Remington firearms company was being divided up amongst various bidders in massive asset liquidation. Chief of interest among those potential acquisitions was the sale of the Marlin brand to Sturm Ruger. Ruger has now had its offer accepted and the acceptance of that order comes with some good news for lovers of the Marlin brand of products.
Ruger Successfully Acquires Marlin Firearms From Remington
In a press release on September 30th Ruger president and CEO Chris Killoy said in regards to the acquisition of Marlin: “The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings.”
Many of you were wondering what would come of the long-lived brand of popular firearms like the model 60 rifle as well as some of Marlin’s bigger centerfire lever-action rifles. Well, you’ll be happy to know that despite any concerns that Ruger plans on maintaining the Marlin Brand and its existing products. Chris Killoy put it best in the press release when he said:
Personally, I think this is great news because now I can sleep soundly that we aren’t losing nearly 150 years of legacy that the Marlin firearms company had built up. Instead what I do think we will see is an increase in quality control that Ruger is well known for. In addition, I also speculate that we should see some limited improvements or additions to the line as Ruger begins to integrate Marlin into its repertoire of firearms presentations.
The press release further went on to detail that the transaction between Remington and Ruger was exclusively for the Marlin Firearms assets and not any of the buildings or real estate that the company-owned. This might mean that things like machinery, blueprints, designs, stock materials, and possibly personnel will be relocated to already existing Ruger facilities – perhaps Ruger might need to plan an expansion for these new assets.
The assets were acquired for a price of $30 million USD for a cash-in-hand purchase price that is set to take place sometime in October. We can probably expect that there will be further announcements about this as Ruger begins to shift assets from the Marlin Firearms facilities.
So what do you all think about this new acquisition and the great news that Marlin really isn’t dying. Is this a breath of new life for the venerated firearms brand? Your thoughts and comments are welcome below. We’ll keep a close eye on this developing process and keep you abreast of any new developments.
Sturm, Ruger & Company, Inc. to Acquire Marlin Firearms Assets
Sturm, Ruger & Company, Inc. (NYSE: RGR) announced today that its offer to purchase substantially all of the Marlin Firearms assets was accepted by Remington Outdoor Company, Inc. and approved by the United States Bankruptcy Court for the Northern District of Alabama. The Company will pay the $30 million purchase price from cash on hand at the time of closing, which is expected to occur in October.
“The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up,” said Ruger President and CEO Chris Killoy. “The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings.”
The transaction is exclusively for the Marlin Firearms assets. Remington firearms, ammunition, other Remington Outdoor brands, and all facilities and real estate are excluded from the Ruger purchase. Once the purchase is completed, the Company will begin the process of relocating the Marlin Firearms assets to existing Ruger manufacturing facilities.
“The important thing for consumers, retailers and distributors to know at this point in time,” continued Killoy, “is that the Marlin brand and its great products will live on. Long Live the Lever Gun.”
Additional information will be released when available. To stay up to date, please sign up for our contact list at Ruger.com/Marlin.
