Remington Outdoor receives $65M bid for Ammo division from JJE Capitol Holdings

[Gluemanz28]

Remington received a $65 million stalking horse bid for the Ammo division from JJE Capitol Holdings (Aka Palmetto State Armory)

https://news.bloomberglaw.com/bankr...65-million-for-remingtons-ammunition-business

This could get interesting if others throw their hat in the ring. I guess we will find out after Sept 23rd.

 

[erasure]

$65? I knew Remington's gone downhill but damn, oh wait nevermind.

edit: the M came later okay

 

[Gluemanz28]

Remington owes its two largest creditors — munitions company St. Marks Powder and Eco-Bat Indiana, a lead producer and recycler — $3.5 million combined. Hmmm.... bullets made from recycled batteries. I wonder how many CCA in a 230 gr 45 ACP?

 

[Gluemanz28]

If PSA was to end up buying the ammunition division I wonder if they’d keep the names the same or create a new brand. I like the name Divoc Eliminators. It's Covid spelled backwards

 

[johntheplinker]

Hopefully whoever gets the winning bid will actually turn things around, not holding my breath on that, instead of raping the company like Cerberus and Freedom Group did.

 

[SOUP]

I sense Palmetto State Armory will have a new line of ammo soon, seeing as JJE owns PSA. I could see this as being a great thing for ammo and the industry in general. Remington has gone way down hill, sadly.

 

[CampingJosh]

If PSA was to end up buying the ammunition division I wonder if they’d keep the names the same or create a new brand.

Probably both. There's value in the long-standing brand names, but there's also certainly an opportunity to introduce new choices.