nativetexan Posted January 1, 2008 Report Share Posted January 1, 2008 Remington Set to Purchase Marlin Firearms January 01, 2008 Remington Arms Company, Inc. of Madison, North Carolina, the only manufacturer of both firearms and ammunition for Hunting, Law Enforcement/Security, Government & Military applications in the United States, today announced on December 26, 2007 that it had entered into a definitive agreement to acquire Marlin Firearms Company, Inc. The transaction is expected to close by the end of January 2008. Marlin, headquartered in North Haven, Connecticut, also owns Harrington and Richardson, New England Firearms 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.” Quote Link to comment Share on other sites More sharing options...
RangerClay Posted January 1, 2008 Report Share Posted January 1, 2008 It's a sad day for us Marlin owners for sure. Here is some reading from the Marlin Forums http://www.marlinowners.com/board/viewforum.php?f=79&sid=bbbd4b0fce3ed4b52a2e328f114e2be2 Quote Link to comment Share on other sites More sharing options...
stevebeilgard Posted January 1, 2008 Report Share Posted January 1, 2008 it's not good for us when the big fish keep eating the little fish. sorry to see that Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted January 1, 2008 Report Share Posted January 1, 2008 Hmmm Lets see... FN buys Winchester Can't find that link but we know this one. Smith&Wesson Buys T/C http://ir.smith-wesson.com/phoenix.zhtml?c=90977&p=irol-newsArticle&ID=942841&highlight Cerebus buys Remington http://www.remington.com/library/press/2007/2007-2.asp Remington buys Marlin Will it end? Gettin' scary. It will become a monopolized business soon. Lets hope quality increases and prices go down...Yeah right:rolleyes: Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted January 1, 2008 Report Share Posted January 1, 2008 Hard to believe that went forward. Recall there being rumors of this before and it was denied or proven to only be rumors. Quote Link to comment Share on other sites More sharing options...
arrow32 Posted January 2, 2008 Report Share Posted January 2, 2008 Dang they make great guns to I hope the products are still quality guns. I love my Marlin I have. Quote Link to comment Share on other sites More sharing options...
maytom Posted January 4, 2008 Report Share Posted January 4, 2008 I think it was a smart move. Remington is a much larger gun company than Marlin, and both have been around for quite a long time. This just shows you that Remington must be doing very well financially to buy out another fine gun company who I think is doing very well too!! I wouldn't worry about Marlin's name, quality, or reputation going down hill. Only thing that changed is the people at the top. Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted January 4, 2008 Report Share Posted January 4, 2008 Remington was bought out also, by Ceberus. So essentially the company that bought Remington is also the company who bought Marlin. See link. http://www.remington.com/library/press/2007/2007-2.asp Quote Link to comment Share on other sites More sharing options...
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