Thursday, April 05, 2007

Remington Arms sold

(Via Timebomb 2000)

Remington Ams Co, based near me in Madison, NC, has been sold to Cerberus Capital Management LP, a private-equity firm, for $118 million. The sale includes $252 million in debt (ack!).

And that's about all we know now. I don't see anything horrible here, but as gun owners we need to keep an eye on this.

Edit 4/4/2007 18:18: The Shooting Wire reports that Cerberus also owns Bushmaster so this is looking pretty good.

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