Federal Ammunition's parent company to pay $81.4 million for unit of bankrupt Remington

Discussion in 'General Handgun' started by aht_six, Sep 28, 2020.

  1. BigEd63

    BigEd63 G&G Evangelist

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    Okay anyone know if Vista owns PSA because I've heard rumors Palmetto State Armory had gotten the ammo division. Although I thought that was a tad bit far-fetched.
     

  2. PaleHawkDown

    PaleHawkDown G&G Evangelist

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    The company that owns them, JJE Capital Holdings LLC, put in a $65 million bid. Looks like Federal was willing to offer more.
     
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  3. BigEd63

    BigEd63 G&G Evangelist

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    That makes sense. I'm not up on all the investment companies involved.

    And who's Round Hill? Hope they ain't another three headed robber baron from hell like Cerebus was.
     
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  4. TACAV

    TACAV G&G Evangelist Forum Contributor

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    yea that ^^

    Im sorta surprised Sig Sauer didnt try to take it. They already have their own ammo plant there after they lured away Remingtons ammo engineers with more money anyways lol. Maybe try to expand their other plant down the road.
     
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  5. DWFan

    DWFan Handgunner Forum Contributor

    The Wall Street Journal report of Remington's ammo manufacturing being sold to the holding company that owns Palmetto State Armory was incorrect and premature. Bids were being accepted up to Sept. 27.
    Vista, who owns Federal, beat them out.
    It was interesting to read that the Navajo Nation was trying to buy it.
     
    Last edited: Sep 28, 2020
  6. DWFan

    DWFan Handgunner Forum Contributor

    Something I had to check on to make sure it's true. Sierra Bullets now owns Barnes. Two of the finest bullet makers are one company. Purchase price is $30.5 million.
     
  7. runfiverun

    runfiverun G&G Evangelist

    SIG got second bid, so if the first deal falls through they are up next.
     
  8. ChaZam

    ChaZam G&G Evangelist Forum Contributor

    "• Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit A with respect to the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit B with respect to the Lonoke Ammunitions Business;"

    ^^ That's from the following article...
    https://www.thetruthaboutguns.com/r...mington-ammo-franklin-armory-gets-bushmaster/
     
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  9. ChaZam

    ChaZam G&G Evangelist Forum Contributor

    ^^^^ Any or all of this that's being reported now could change depending on the bankruptcy court, and also whether the potential purchasers have the necessary finances or a line of credit to make it happen.
     
  10. PaleHawkDown

    PaleHawkDown G&G Evangelist

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    There is one thing that really bothers me about Federal buying Remington - we are getting fairly close to one company owning the monopoly on the largest domestic government contracts for America.

    If Northrop Grumman was to come in and buy up Federal after this there would basically be one very-closely-knit-with-the-government ammo supplier for maybe 80% of all government-contracted ammo in America, and a huge chunk of the civilian sector.
     
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  11. ChaZam

    ChaZam G&G Evangelist Forum Contributor

    Yes sir, that could be a valid point. One thing that causes me to feel a little better about that though is that foreign entities such as Sig and Fiocchi have established a pretty solid domestic manufacturing presence here in the USA marketplace for ammo and also firearms, optics, etc in the case of Sig.
     
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  12. I'm seeing a lot of Norma ammo around here
     
  13. graybeard

    graybeard G&G Evangelist

    I see ammo getting more expensive, even after this latest round jacked up prices.
    Less competition = no reason to keep prices low.
     
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