Remington Outdoor Co., the 200-year-old gun maker that filed for bankruptcy again in July, has been auctioned off in court, Bloomberg News reported. 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 assets; Roundhill Group LLC for its non-Marlin firearms businessSierra Bullets LLC for its Barnes ammunitions business; Sturm, Ruger, & Co. for its Marlin firearms business; JJE Capital Holdings LLC for DPMS, H&R, Stormlake, AAC and Parker brands; Franklin Armory Holdings Inc. for Bushmaster brand and some related assets; and Sportsman’s Warehouse Inc. for Tapco brands.
