Welcome to MGO's Internet Discussion Forums…Please Consider Becoming a Dues-Paying Member of the ORG…Click >>>>>HERE<<<<< for more info…………****DONATIONS**** can also be made toward MGO's Legal Defense Fund and/or MGO's Forums >>>>>HERE<<<<<

KROGER

Results 1 to 7 of 7
  1. #1
    I am a Forum User
    Join Date
    Jul 2002
    Location
    Mask free in the gunshine state!
    Posts
    20,586

    Remington Selling Ammo Business

    Remington Selling Ammo Business To SC Company

    The Wall Street Journal reported yesterday that Remington Arms has agreed to sell its ammunition business for $65 million plus assumption of debt. The buyer is JJE Capital Holdings of Columbia, SC. You may not recognize JJE Capital but you will recognize one of their biggest portfolio companies – Palmetto State Armory.

    From the WSJ:
    Firearms maker Remington Outdoor Co. has agreed to sell its ammunition business out of bankruptcy to South Carolina-based investment firm JJE Capital Holdings LLC for $65 million plus the assumption of liabilities, subject to better offers.

    The JJE offer came in the form of a stalking-horse bid, setting a floor on the sale price for Remington’s ammunition business, which the company has been marketing while in chapter 11. Remington filed for bankruptcy protection in July and has been open to selling its ammunition and firearms operations to pay off its debt.

    JJE Capital is considered a “stalking horse bidder” meaning they were given the opportunity to make the first bid. This first bid then serves as a floor for the price of that asset in bankruptcy.

    According to papers filed with the bankruptcy court in Alabama, JJE Capital would get Remington’s Arkansas plant, its lease on its Utah property (Barnes Bullets), any improvements made to the Utah property, all the equipment and machinery, all the existing contracts for ammunition, and all the intellectual property. All permits for things like storm water and all special licenses from ATF and the Department of State would be transferred as allowed by law.

    As noted in the Wall Street Journal report, this all is subject to both court approval and to any potentially higher bids.

  2. #2
    I am a Forum User
    Join Date
    Aug 2019
    Location
    Outer Space
    Posts
    48
    JJE is the parent of Palmetto State Armory, so I think this could be a good thing.

  3. #3
    I am a Forum User
    Join Date
    Oct 2016
    Location
    Holly Michigan
    Posts
    179
    i believe this will be another homerun by PSA and their parent company

  4. #4
    MGO Member luckless's Avatar
    Join Date
    Feb 2011
    Location
    Sault Ste. Marie
    Posts
    5,102
    I think those boxes of Thunderbolts are going to be collectible items.
    Just me

    Instructor: Basic Pistol, PPIH, PPOH, Hunter Safety
    NRA Life Member
    President of the Chippewa County Shooting Association

  5. #5
    In Memoriam tenthumbs's Avatar
    Join Date
    Nov 2008
    Location
    Lapeer County
    Posts
    9,905
    DAILY DEAL!!!

  6. #6
    MGO Member
    Join Date
    Mar 2011
    Location
    United States of America
    Posts
    4,067
    Might as well, anything Remington recent years has been poor quality that only damaged their brand name.

  7. #7
    I am a Forum User
    Join Date
    Apr 2014
    Location
    Buchanan, MI
    Posts
    101
    Quote Originally Posted by luckless View Post
    I think those boxes of Thunderbolts are going to be collectible items.
    Might as well be collector's items. Very few on my .22's like eating them.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
only search Michigan Gun Owners Forums
MGO's Facebook MGO's Twitter