Marlin Firearms is known for its lever-action rifles and bolt action hunting rifles. Remington Outdoor Company previously owned marlin before they went bankrupt in September.
The bankruptcy court approved the acquisition of Marlin Firearms by Ruger on Sept. 30 for $28.3 million. Ruger CEO Chris Killoy said that Marlin “aligns perfectly with ours” and “the Marlin product portfolio will help us widen our already diverse product offerings.”
Shot Business reported that Marlin’s quality suffered in 2010 when Remington bought the brand and did not hire their experienced staff. “They had never built lever-action rifles, so there was a learning curve.”
We are hopeful that Ruger can get the Marlin brand back to the quality lever-action rifles we grew up with. Below is the press release from Ruger
Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that the closing of its acquisition of substantially all of the Marlin Firearms assets occurred on Monday, November 23. The agreement to purchase these assets emanated from the Remington Outdoor Company, Inc. bankruptcy and was approved by the United States Bankruptcy Court for the Northern District of Alabama on September 30, 2020. The purchase price of approximately $28.3 million was paid with available cash on hand.
Chief Executive Officer Christopher J. Killoy noted the excitement that has permeated the firearms industry in anticipation of the confluence of these two iconic firearms brands, “Since we announced the agreement to purchase Marlin in September, we have heard from countless members of the firearms community – consumers, retailers, distributors, writers, and collectors – who are delighted that legendary Marlin rifles are now part of the Ruger product family. We are excited to start moving these assets to our Ruger facilities and setting up the manufacturing cells that will produce Marlin rifles for years to come. We look forward to re-introducing Marlin rifles in the latter half of 2021.”