I hope they do not touch Marlin rifles and turn them into remingtons...
HARTFORD, Conn. — Remington Arms Co. Inc. will acquire Marlin Firearms Co. in a deal that brings together two firearms companies founded in the 19th century.
Remington, acquired by Cerberus Capital Management in April, will gain 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, including Annie Oakley.
Ralph Barrera
AMERICAN-STATESMAN
(enlarge photo)
Marlin Firearms Co., a niche maker of lever-action rifles, has agreed to be acquired by Remington Arms Co. Inc., which has a full line of shotguns, ammunition and rifles.
Terms of the deal for privately held Martin Firearms were not disclosed.
A spokesman for Madison, N.C.-based Remington would not comment on whether it 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 a shop to make 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 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.
"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 industry, said Chris Dolnack, of the National Shooting Sports Foundation, a trade group.
Remington, founded in 1816, 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, he 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."
HARTFORD, Conn. — Remington Arms Co. Inc. will acquire Marlin Firearms Co. in a deal that brings together two firearms companies founded in the 19th century.
Remington, acquired by Cerberus Capital Management in April, will gain 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, including Annie Oakley.
Ralph Barrera
AMERICAN-STATESMAN
(enlarge photo)
Marlin Firearms Co., a niche maker of lever-action rifles, has agreed to be acquired by Remington Arms Co. Inc., which has a full line of shotguns, ammunition and rifles.
Terms of the deal for privately held Martin Firearms were not disclosed.
A spokesman for Madison, N.C.-based Remington would not comment on whether it 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 a shop to make 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 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.
"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 industry, said Chris Dolnack, of the National Shooting Sports Foundation, a trade group.
Remington, founded in 1816, 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, he 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."
