by Joseph P. Tartaro
Executive Editor

The trend toward consolidations and acquisitions which have marked the firearms industry in recent years moved at an even headier pace in 2007 involving larger firms.

On Dec. 26, Remington Arms Company of Madison, NC, the only manufacturer of both firearms and ammunition for hunting, law enforcement/security, government and military applications in the US, announced that it had entered into a definitive agreement to acquire Marlin Firearms Company and its subsidiary brands. The transaction was expected to close by the end of January, just prior to the 30th annual Shooting, Hunting and Outdoor Trade (SHOT) Show in Las Vegas, Feb. 2-5.

Trade sources place the purchase price for Marlin at about $41.7 million.

Remington itself had been acquired by Cerberus Capital Management LP, a New York City-based private equity investment firm, in April 2007 for an undisclosed amount. Cerberus had previously purchased Bushmaster firearms which acquired Cobb Manufacturing, a manufacturer of large caliber tactical rifles, in August 2007. In December 2007, as recently reported in Gun Week, Cerberus announced its acquisition of DPMS-Panther Arms of St. Cloud, MN.

Cerberus has generally retained the existing corporate management of the companies it acquires.

Marlin, founded in 1870 is headquartered in North Haven, CT. Marlin also owns the Harrington and Richardson (H&R), New England Firearms (NEF) 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 US-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,” Millner continued.

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.”

Kenna 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.”