Sturm, Ruger and Company to acquire assets of Marlin Firearm
Sep. 30, 2020 5:17 PM ET|About: Sturm, Ruger & Comp... (RGR)|By: Manshi Mamtora, CFA, SA News Editor
Sturm, Ruger and Company (NYSE:RGR) offer to purchase substantially all of the Marlin Firearms assets was accepted by Remington Outdoor Company and U.S. Bankruptcy Court for the Northern District of Alabama.
The company will pay the $30M purchase price from cash on hand at the time of closing, which is expected to occur in October.
"The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up. The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings." said President and CEO Chris Killoy.
Sep. 30, 2020 5:17 PM ET|About: Sturm, Ruger & Comp... (RGR)|By: Manshi Mamtora, CFA, SA News Editor
Sturm, Ruger and Company (NYSE:RGR) offer to purchase substantially all of the Marlin Firearms assets was accepted by Remington Outdoor Company and U.S. Bankruptcy Court for the Northern District of Alabama.
The company will pay the $30M purchase price from cash on hand at the time of closing, which is expected to occur in October.
"The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up. The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings." said President and CEO Chris Killoy.