Remington to Acquire Marlin Firearms
Dont know if its been posted or not.
http://www.remington.com/library/press/2007/2007-55.asp
quote:Press
FOR IMMEDIATE RELEASE
Remington to Acquire Marlin Firearms
Deal positions Marlin and its various brands for growth
MADISON, N.C., December 26, 2007 - 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 (NYSE:DUF), 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 to the end customer. And 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 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.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward looking statements include expectations regarding (i) the proposed acquisition, (ii) the anticipated benefits of the acquisition and (iii) the timing of the proposed acquisition. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the demand for the Company's products, the Company's growth opportunities, and other risks detailed from time to time in the Company's reports filed with the SEC, including its Form 10-K Report for the fiscal year ended December 31, 2006.
The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contacts
For Remington Arms Company:
Al Russo: (336) 548-8572
http://www.remington.com/library/press/2007/2007-55.asp
quote:Press
FOR IMMEDIATE RELEASE
Remington to Acquire Marlin Firearms
Deal positions Marlin and its various brands for growth
MADISON, N.C., December 26, 2007 - 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 (NYSE:DUF), 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 to the end customer. And 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 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.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward looking statements include expectations regarding (i) the proposed acquisition, (ii) the anticipated benefits of the acquisition and (iii) the timing of the proposed acquisition. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the demand for the Company's products, the Company's growth opportunities, and other risks detailed from time to time in the Company's reports filed with the SEC, including its Form 10-K Report for the fiscal year ended December 31, 2006.
The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contacts
For Remington Arms Company:
Al Russo: (336) 548-8572
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it has. 0 -
So who are the big three when it comes to firearms? Beretta is one, who are the others (I'm refering to recent corporate mergers). Any ideas? Joe 0 -
The News has been out a while now.
Remington taking over Marlin is bad news for Marlin fans. With the way Remington's quality has been on a steady decline in the past few years. They can do nothing but drag Marlin down with them.
Givette
I do not know what you can call it. But FN has agreed to start manufacturing the Winchester Model 70 Featherweights beginning sometime in 2008.0 -
St. Clour, Minnesota, DPMS, a leading supplier of AR15 based rifles, parts and accessories announced today that its assets have been acquired by an affiliate of Cerberus Capital Management, L.P.
Randy Luth, DPMS founder and President, remarked, "We were looking for a partner that could enhance our expertise in operations and further develop our sales and marketing capabilities. Cerberus is a partner that can help us in those areas and provide the financial and operational resources required to expand our business. We look forward to working with them. After starting this business 21 years ago, I couldn't be more excited about our prospects for the future, both in terms of the growth we believe we can achieve and the level of satisfaction and value we can provide to our customers."
In connection with the transaction, Mr. Luth will remain President of the newly formed DPMS Firearms, LLC and will continue to oversee the strategic and operational aspects of DPMS. Added Mr. Luth, "I would like to thank our employees, first and foremost. Their hard work, and the support of our dedicated customers, has brought us to where we are today. As we look forward, we see increased interest in our new calibers, based on the proven DPMS 'LR' rifle platform. With our technical expertise and the commitment of our new owners, we intend to broaden the breadth and depth of our rifle and accessories offerings to current and new markets. We will continue to provide not only great value to our loyal customers, but also the high level of customer service we are known for."
http://sev.prnewswire.com/aerospace-...3122007-1.html0 -
So much for quality control. Your Marlin made firearms will be worth more to bad i dont have any. 0 -
And Beretta owns something like 30% of FN Herstal. I think I will start buying stock in Ruger, to help keep it American owned. 0 -
Cerberus is an American company. They are the largest investment group in the country.
At least that is what I see from searching for info on them.
Mike0 -
Yep, I guess, though I do not know who and where the principals are. They have a record of buying into industries they know little or nothing about and doing poorly. 0 -
[:(][:(] what a shame although i like savage for centerfires i still like the little marlin rimfires.if they resemble any of the junk remmy is putting out now marlin will be useless 0
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