Remington Outdoor Company
 | |
Formerly | Freedom Group |
|---|---|
| Private | |
| Industry | Firearms, Defense |
| Founded | 2007 |
| Headquarters | , |
Area served | Worldwide |
| Products | Pistols, Rifles, Carbines, Shotguns, Ammunitions, Clothing |
| Brands | Remington Barnes Bullets Bushmaster DPMS Advanced Armament Marlin Firearms H & R Firearms Para USA The Parker Gun Dakota Arms Tapco Storm Lake Barrels |
| Revenue |  US$ 865.1 million [1] (2016) |
| US$ 18.9 million[1] (2016) | |
| Owner | Cerberus Capital Management |
Number of employees | >3,000 |
| Website | www.remingtonoutdoorcompany.com |
Remington Outdoor Company (ROC) is an American firearms manufacturer holding company which has acquired notable brands such as Bushmaster, DPMS, Remington and Marlin.[2]
History[edit]
In March 2012, Robert Nardelli stepped down as CEO of Freedom Group and as head of the operations and advisory business of Cerberus Capital Management LP and became adviser to Stephen Feinberg, the head and founder of Cerberus. He became CEO of Freedom Group in September 2010 as the North Carolina-based gun maker searched for a permanent CEO.
In December 2012, citing the Sandy Hook Elementary School shooting as "a watershed event that has raised the national debate on gun control to an unprecedented level," Cerberus announced it would sell all of its investments in Freedom Group. The private equity firm said it would retain a financial adviser to sell its interests in Freedom Group, and would return the proceeds to investors.[3][4] The decision was made after a California pension board, a Cerberus stakeholder, announced it would dispose of all stakes it held in firearms manufacturers that make weapons banned by state law. As of February 2018, Cerberus still owns the company.
On August 15, 2017, James Marcotuli announced his resignation as Chief Executive Officer citing personal reasons as his cause of departure.[5] On October 25, 2017, the company announced that Anthony Acitelli would take on the role of CEO.[6]
References[edit]
- ^ a b "Annual Report" (PDF) (Press release). 2016-12-31. Archived (PDF) from the original on 2017-12-07. Retrieved 2017-12-07.
- ^ "Remington Outdoor Company Announces Management Changes". Business Week. New York: Bloomberg. June 9, 2015.
- ^ Cerebus Capitol Management. "Cerberus Capital Management Statement Regarding Freedom Group, Inc" (Press release). PRNewswire. Retrieved 18 December 2012.
- ^ Nagourney, Adam (December 18, 2012). "Broad Gun Control Efforts Introduced in Wake of Shooting". The New York Times. Retrieved December 19, 2012.
- ^ "ROC CEO and Director Changes" (PDF) (Press release). Archived (PDF) from the original on 2017-12-07. Retrieved 2017-12-07.
- ^ "ROC CEO Appointment" (PDF) (Press release). 2017-10-25. Archived (PDF) from the original on 2017-12-07. Retrieved 2017-12-07.
Further reading[edit]
- Singer, Natasha (26 November 2011). "How Freedom Group Became the Gun Industry's Giant". The New York Times.
