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Fjold
12-27-2007, 7:20 AM
Cerberus Capital bought Remington, Bushmaster, DPMS and now Marlin.


Remington to Acquire Marlin Firearms

Deal positions Marlin and its various brands for growth
December 26, 2007: 04:08 PM EST


MADISON, N.C., Dec. 26 /PRNewswire/ -- Remington Arms Company, Inc. ("Remington" or "the Company") the only manufacturer of both firearms and ammunition for Hunting, Law Enforcement/Security, Government & Military applications in the United States, today announced it has entered into a definitive agreement to acquire Marlin Firearms Company, Inc. ("Marlin"). The transaction is expected to close by the end of January 2008.

Marlin, headquartered in North Haven, Connecticut, also owns Harrington and Richardson (H&R), New England Firearms (NEF) and LC Smith brands of rifles and shotguns.

Tommy Millner Remington's CEO, said, "I am pleased to announce that Marlin's well known brands with a long heritage of providing quality rifles and shotguns to hunters and shooters around the world will join the Remington family. The opportunity to combine two historic U.S. based companies with such storied and proud histories, is both challenging and exhilarating."

"We look forward to working with Bob Behn, a well respected member of our industry. He will remain as president of Marlin, charting a course of further growth and operational improvement," Mr. Millner continued.

Closing of the transaction is subject to certain customary conditions, including regulatory approvals. Credit Suisse acted as financial advisor to Remington with respect to this acquisition. Duff & Phelps Securities, LLC, a unit of Duff & Phelps Corporation , initiated the transaction, assisted in the negotiations and acted as exclusive financial advisor to Marlin.

Frank Kenna III, Marlin's Chairman, said, "Marlin has been a family run business since 1924 and through a number of important steps, we have grown it into the company it is today. 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."

Mr. Kenna III continued, "We believe Remington's commitment to the industry, shooters and hunters alike, combined with their resources from a manufacturing and sales and marketing position, will reinforce the confidence, hard work and dedication that our employees and management have put into our brands."

Marlin manufactures a wide range of long guns, from the historic Model 39 and 336 rifles, which are the oldest shoulder arm designs in the world still being produced, to the XLR Series, which are the most accurate lever action rifles in the world. Its lever action 22 repeater, now the Model 39, became the favorite of many exhibition shooters, including the great Annie Oakley.

E. Scott Blackwell, Remington's President of Global Sales/Marketing and Product Development, said, "The history of our two companies in innovation and meeting the needs of hunters and shooters around the globe, combined with the opportunity to further develop the Remington, Marlin, H&R, NEF and LC Smith brands, is not only beneficial to the Company and our channel partners, but especially to our end customer. It is these customers and our employees that have contributed to the success and longevity of these brands."

About Remington Arms Company, Inc.

Remington Arms Company, Inc., headquartered in Madison, N.C., designs, produces and sells sporting goods products for the hunting and shooting sports markets, as well as solutions to the military, government and law enforcement markets. Founded in 1816 in upstate New York, the Company is one of the nation's oldest continuously operating manufacturers. Remington is the only U.S. manufacturer of both firearms and ammunition products and one of the largest domestic producers of shotguns and rifles. The Company distributes its products throughout the U.S. and in over 55 foreign countries. More information about the Company can be found at http://www.remington.com.

About Marlin Firearms, Inc.

Established in 1870, The Marlin Firearms Company's brands include Marlin, Harrington & Richardson, New England Firearms and L. C. Smith. Under its various brands, Marlin produces an array of lever action, bolt action, and semi-automatic rifles, a wide variety of break-open single shot shotguns and rifles as well as muzzleloaders and combo sets. The company maintains a corporate Headquarters and manufacturing plant in North Haven, Connecticut as well as a manufacturing facility in Gardner, Massachusetts.

VegasND
12-27-2007, 7:23 AM
Any handgun manufacturers available?

Is Detonics still available? Or, would that be too small for Cerberus?

Res
12-27-2007, 7:29 AM
I would love to see them buy Coonan, so i can finally get some parts. :mad:

ar15barrels
12-27-2007, 8:06 PM
Ok, when Cerebus bought the first couple gun companies, I was not so worried.
Now they are on a buying spree and I'm getting concerned. :eek:
This could get ugly if they end up owning 80% of the big gun makers and decide that profit margins are not high enough and just start raising prices across all the companies...

caduckgunner
12-27-2007, 8:11 PM
Just think of the profit they are going to make if Hilary wins the ticket for the dems. There will me a MAJOR run on guns.

ar15barrels
12-27-2007, 8:35 PM
Just think of the profit they are going to make if Hilary wins the ticket for the dems.
There will me a MAJOR run on guns.

I'm pretty sure that THEY are already banking on that. ;)

WokMaster1
12-27-2007, 9:11 PM
Ok, when Cerebus bought the first couple gun companies, I was not so worried.
Now they are on a buying spree and I'm getting concerned. :eek:
This could get ugly if they end up owning 80% of the big gun makers and decide that profit margins are not high enough and just start raising prices across all the companies...

Nah, don't worry. Hillary will put a stop to it......:eek:

Ech0Sierra
12-27-2007, 9:18 PM
It's nice sending your 870, Model 60, 700 and Model 1897 to the same company for repair though...

hoffmang
12-27-2007, 9:46 PM
Don't forget Smith & Wesson, DPMS, and Thompson Center arms.

The Microsoft of gun manufacturers. It's a good time to be consolidating. Silly laws have slowed the business, but the changes coming post Heller should increase the market size. Also, the consolidation almost always leads to new room for new, smaller manufacturers to create new marketshare.

We gun owners just need to make sure that these guys understand that keeping regulations at bay is good.

-Gene

moulton
12-27-2007, 9:51 PM
Bushmaster
cobb manufactureing
DPMS
Remington
Marlin
H&R
NEF
Smith & Wesson
Tomphson center

wow....buying up the whole market

ar15barrels
12-27-2007, 10:11 PM
wow....buying up the whole market

Literally. :eek:

SFFRONTMAN
12-28-2007, 12:20 AM
As long as they leave glocks alone...:nono:

ar15barrels
12-28-2007, 12:24 AM
As long as they leave glocks alone...:nono:

You better knock on wood. ;)
Springfield and Kimber need to watch out too.

robairto
12-28-2007, 6:36 PM
The same ceo that ran Home depot into the ground is now running Cerberus. They are a bottom line only comp. which will mean the following:
1. we will leave the operations as they are (till???)
2. we will maximize profit
3. we will minimize waste and duplicity
4. we will raid cash reserves
5. we will decrease comp benefits
6. we will maximize profit
7. we will be a single entity that also owns Chrysler/GMAC so we cannot afford GUN related bad press!!
8. we will cross sell all products where feasible
9. we will incorporate best practices
10. non performing niche markets will go to the wayside
11. we must grow or heads will roll
12. gun manufacturing will not be allowed to dillute the capital investment
due to legal/obligatory/regulatory issues.


Just my .02 but I see no benefit in it for guns owners. I've swung the corporate axe. The thinning of the herd isn't always the best thing nor prudent. It is however expedient for those at the top.