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Thread: Remington Arms sold for $370 Million...

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    Default Remington Arms sold for $370 Million...

    Remington Arms is sold to Cerberus for $118M plus $252M indebtness... Cerberus also purchased Bushmaster (manufacturer of AR-15 type rifles and parts) last year.

    Utica Paper Reporting Remington Deal

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    Member barrowdave's Avatar
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    Is Cerberus a U.S. company?

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    Yes. An investment firm. Their MO is to buy failing companies make changes and/or an influx of needed capital and turn the companies around. They are not known for moving companies overseas or parting them out and selling them off. I suppose anything could happen, but this might be the best thing that could happen to Remington given their current performance and what happen to Winchester (USRAC).

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    Just a thought, I didn't do any research, but I got an email that says George Soros owns or is heavily invested in Cerberus. Not sure he is the guy to be

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    Quote Originally Posted by plainsman View Post
    Just a thought, I didn't do any research, but I got an email that says George Soros owns or is heavily invested in Cerberus. Not sure he is the guy to be
    FAIL. Do some research. It would have taken all of 3 second to find the truth. http://www.nraila.org/news-issues/ar...r-control.aspx
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    Hey guys you managed to dig up a really old thread. Cebrus bought Rem in 2007..... check the dates. And no Cebrus is not ownd by sorros. Here is a quote from the wiki page:

    Firearms Acquired Bushmaster Firearms, Inc., from Windham, Maine native Dick Dyke for an undisclosed sum in April 2006, and purchased Remington Arms in April 2007. Under Cerberus direction, Bushmaster Firearms acquired Cobb Manufacturing, a well-respected manufacturer of large-caliber tactical rifles in August 2007. Cerberus also acquired DPMS Panther Arms December 14, 2007.[57][58] Remington Arms acquired Marlin Firearms in January 2008.[59][60] In October 2009, Remington Military products acquired silencer manufacturer Advanced Armament Corporation.[61] These companies were combined into the Freedom Group.
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    Not sure consolidating gun companies is a good thing.... a little pressure and one board meeting can destroy them all regardless of who runs them.
    Somewhere along the way I have lost the ability to act politically correct. If you should find it, please feel free to keep it.

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    The news is old but what is really bad is that Robert Nardelli is CEO of Remington now. He is the same guy that almost ruined Home Depot before he was fired. Of course his "golden parachute" softened the failure some.
    NRA Life Member since 1974

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    Member sayak's Avatar
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    Robert Nardelli is actually George Sorros with one of those Mission Impossible masks on.

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    Bushmaster and DPMS took a huge dive in quality after they sold out. DPMS was a great gun but now they are a far cry from what they used to be. The moved from Becker MN to St. Cloud MN where i live.

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    Who owns Marlin ?

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    Same outfit...Cerberus
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    Plainsman....do you have an axe to grind regarding Remington? All five of your total posts have been Remington gripes or now misleading false information.
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    Quote Originally Posted by AKmud View Post
    Plainsman....do you have an axe to grind regarding Remington? All five of your total posts have been Remington gripes or now misleading false information.
    Of course he does he is from California they are afraid of guns there. Didnt you know in California guns kill people on their own all the time with no apaprant motive. Guns just sitting there on the shelf shooting people.

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    AK, that's what I thought - It seems like "they" (meaning Marlin) has been burnin' the midnight oil in development of the X7 - It doesn't look like a company out to destroy consumer confidence to me .......

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