Sturm Ruger & Co. completed the acquisition of Marlin assets from the Remington Outdoor Co. bankruptcy sale.
The New Hampshire-based gunmaker paid the $28.3 million price agreed on November 23, 2020. In-house production of Marlin firearms, including the Lever Gun, would start by mid-2021.
Remington bankruptcy was approved by the United States Bankruptcy Court for the Northern District of Alabama on September 30, 2020, giving the company the green light to hunt for bidders.
The sale was initially gripped by uncertainty after bidders withdrew after accusations of lack of transparency.
Ruger Chief Executive Officer Christopher J. Killoy said the purchase of Marlin assets generated enthusiasm in the firearms community for bringing Marlin rifles to the Ruger product family.
“We are excited to start moving these assets to our Ruger facilities and setting up the manufacturing cells that will produce Marlin rifles for years to come,” Killoy said.
In September, he said that his company could not have squandered the opportunity to acquire the 150-year old legendary gunmaker.
He pointed out that the Marlin product family fitted exceptionally well worth the Ruger brand. Additionally, it would help his company diversify its product portfolio.
“The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up,” Killoy said on September 30. “The brand aligns perfectly with ours, and the Marlin product portfolio will help us widen our already diverse product offerings.”
He assured Marlin gun enthusiasts that the Marlin brand and its great products would continue to exist and its 150-year history would be protected.
“Long Live the Lever Gun,” he remarked.
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