Remington's Ammo Business for Sale

[farscott]

From the WSJ at https://www.wsj.com/amp/articles/ban...ss-11599680366

Bankrupt Remington Gets $65 Million Offer for Ammunition Business

Firearms maker agrees to sell its ammunition business out of bankruptcy to investment firm JJE for $65 million, subject to better offers

The kicker is JJE is the parent company of Palmetto State Armory. So if no one bids higher, PSA will be making Remington ammo.

[Zincwarrior]

I have $20 for a counteroffer. Who's with me?

[LittleLebowski]

Sold to the guy that founded Palmetto/PSA, Jamin McCallum: https://palmettostatearmory.com/about-psa.html

Firearms maker Remington Outdoor Co. has agreed to sell its ammunition business out of bankruptcy to South Carolina-based investment firm JJE Capital Holdings LLC for $65 million plus the assumption of liabilities, subject to better offers.

The JJE offer came in the form of a stalking-horse bid, setting a floor on the sale price for Remington’s ammunition business, which the company has been marketing while in chapter 11. Remington filed for bankruptcy protection in July and has been open to selling its ammunition and firearms...

http://www.buzzfile.com/business/Jje...C-803-360-1838

[blues]

Does this mean that South Carolina will again fire the first shot in the coming civil war?


/sarc

[ccmdfd]

Does this mean that South Carolina will again fire the first shot in the coming civil war?


/sarc

Ouch!
Too soon!

[Zincwarrior]

Does this mean that South Carolina will again fire the first shot in the coming civil war?


/sarc

More importantly does this mean Remington, er Palmetto ammunition will start helping alleviate the current shortages!

I wonder if they will keep the name, as it has IP value or go with Palmetto. From a market based perspective I'd keep the name for ammunition as it has brand cache.

[Stephanie B]

At least it’s apparently not being bought by a bunch of vulture capitalists looking to drain the business and then bail.

[5pins]

This sounds like a good turn of events. A gun company buying an ammo company.

[OlongJohnson]

I've said for years that the only part of the Remington group I'd miss if it went away is Barnes Bullets. If UMC comes along in the deal, that's a good thing. Had decent results with their stuff.

[ccmdfd]

I've said for years that the only part of the Remington group I'd miss if it went away is Barnes Bullets. If UMC comes along in the deal, that's a good thing. Had decent results with their stuff.

Learned something new. Was not aware that Barnes was part of Remington.

I'm a very big fan of Barnes.