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Remington Auctioned Off to Seven Bidders in Bankruptcy Court

Max Zimmerman and Jef Feeley
·1 min read

(Bloomberg) -- Remington Outdoor Co., the 200-year-old gun maker that filed for bankruptcy again in July, has been auctioned off in court.

Seven bidders will each purchase a portion of the company’s businesses, according to a filing in the northern district of Alabama.

The development caps a hunt for buyers to bring in funds to pay off creditors. Cerberus Capital Management had acquired Remington in 2007, and the firearms and ammunition giant accumulated nearly $1 billion in debt.

The company said previously that it had $437.5 million in sales last year, about half the business it did in 2016.

Here are the details on the successful bidders and the Remington businesses they are buying:

Vista Outdoor Inc. for its Lonoke ammunitions business and certain IP assetsRoundhill Group LLC for its non-Marlin firearms businessSierra Bullets LLC for its Barnes ammunitions businessSturm, Ruger, & Co. for its Marlin firearms businessJJE Capital Holdings LLC for DPMS, H&R, Stormlake, AAC and Parker brandsFranklin Armory Holdings Inc. for Bushmaster brand and some related assetsSportsman’s Warehouse Inc. for Tapco brands

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