If you’re wondering, “who owns Remington firearms?” it might be time to consider a change in the company’s ownership. As its name suggests, Remington is an American firearms manufacturer that manufactures hunting and sporting firearms. The company was acquired by JPMorgan Chase and Franklin Advisors in 2018, after a bankruptcy filing. Prior to the bankruptcy filing, Remington was owned by the private equity firm Cerberus Capital Management.
Remington’s roots date back to 1816, when it first began pumping out flintlock rifles. In recent years, however, the company fell into a financial crisis, filing for bankruptcy twice in as many years. In March 2018, Remington filed for bankruptcy, and again in July 2020, after negotiating with the Navajo Nation. After filing for bankruptcy twice in two years, Remington has been unable to recover and is currently undergoing a turnaround process.
Marlin Firearms Co., founded in 1817, is another Remington company. The company was one of the first companies to manufacture single-shot rifles. In 2008, Remington sold Marlin to Cerberus Capital Management, a private investment firm. Cerberus has acquired the majority of the company’s shares, but it is unclear who owns Marlin Firearms.
During World War II, the company had expanded its operations overseas. This expanded the company’s reach internationally, and the company became well-positioned for the boom in wartime production. It is no surprise then that the company has many wealthy owners. Its history is rich with stories of triumph and tragedy. Despite the company’s reputation, however, it was still a family affair. A family with three sons, a legacy like that, has a long history of firearm manufacturing.
As the company struggled with financial problems during the late 1990s, Clayton, Dubilier & Rice looked at selling the business and taking it public. However, the deal never materialized, and Remington’s financial health remained in jeopardy. Due to an increasingly unhealthy economy, Remington was struggling. The company’s debt levels reached nearly $400 million annually by 1992, and it filed for bankruptcy in July. Despite this, Remington’s financial position did improve. By mid-2001, sales had nearly doubled to $425 million annually.
Although the company is the oldest gunmaker in the U.S., it has also been one of the largest suppliers of small arms. Its name is synonymous with innovation, and the company is well-known for its breach-loading rifle. It also makes fishing line and products and a variety of other products. The company has been in business for over a century and has a strong history of innovation.
Despite the settlement, it remains unclear how much of the company’s responsibility for the Sandy Hook shooting falls under the federal immunity shield. This shield, as the name implies, protects gun manufacturers from criminals who use their guns. However, the settlement is a notable victory for the families of the victims of Sandy Hook, but it’s hardly a game-changer for gun control advocates. The company’s bankruptcy situation may have played a role in the company’s decision to settle rather than a resolution of the case.