Good news and bad news from the world of firearms. The bad news is that the dismembering of the Remington Arms goes on as a consequence of the company's bankruptcy. The historical US guns manufacturer is in fact selling its assets, including several well-known brands. Among the latter ones, Marlin Firearms, a name well-known to lever-action enthusiasts. The good news is that Ruger officially announced yesterday in a press release 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”.
How is that good news? Because Ruger President and CEO Chris Killoy also assured Marlin fans that Ruger will maintain the brand's identity and its current products. "The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings," says Killoy.
The purchase will cost Ruger the (relatively) modest sum of $30 million. There were fears that the acquisition would mean the de facto demise of Marlin brand and its renowned lever-action rifles. But this is not the case, it seems: "The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up," adds Ruger President and CEO. "The important thing for consumers, retailers and distributors to know at this point in time is that the Marlin brand and its great products will live on. Long Live the Lever Gun."
Ruger's press release also stresses that “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”.
Now it only remains to be seen what will be the fate of the remnants of Remington itself.
