Who owns Remington firearms? It’s important to know the answer to that question before you go buying a new gun. The company had borrowed hundreds of millions of dollars in 2012, and it was one of the oldest continuously-operating manufacturers in the United States. The debt, which was about $828 million, was actually low when compared to the company’s total earnings, and it could be attributed to the cost of building a new factory. But the company couldn’t afford to do this.
To make the purchase, Cerberus formed a holding company and put money in it. Remington used the borrowed money to pay off the debt of Cerberus. Since Remington owed the lenders money, it was cheaper to service this debt than paid-in-kind debt. Cerberus had borrowed the money for the purchase, and the company owes the lenders the debt only if Remington can make money.
Since 1816, Remington has been making high-quality firearms and ammunition. Its headquarters were originally in Ilion, New York, but they later moved to a new facility about 25 miles away, which is now referred to as “Madison”. In 1997, the company also opened a new firearms manufacturing plant near Mayfield, Kentucky, a move that is expected to save millions of dollars.
After Remington filed for bankruptcy, Vista Outdoor acquired the company’s ammunition manufacturing plant and Remington trademarks. This deal is expected to close early in the third quarter of fiscal year 2021. Remington firearms will continue to operate independently from Vista Outdoor, and it is unclear who owns Remington ammunition. They are not related to each other, but their ownership is related and can be confusing. You can look up the company’s full history on the website of Remington Outdoors.