ALLOUTDOOR.COM September 8, 2020 – Over the past couple of weeks, we’ve talked about what happened with Remington and where things maybe went astray leading to the dissolution of the company. Now the question remains, what can we expect from the new Remington?
Roundhill Group was the winning bidder for Remington firearms. I had the opportunity to chat with partner Jeff Edwards about the group’s vision for Remington and what plans they have going forward.
If you were on the fence about what to expect from Remington and Roundhill, what Edwards told me should ease your mind. To understand the direction ahead, you need to understand the direction from the past.
When Cerberus Capital Management was at the helm, it bought up Marlin, Bushmaster, DPMS, H&R, Tapco, AAC and other outdoor industry brands. It further branched off into some additional, Remington-branded outdoor lifestyle products. This had the effect of making Remington huge, but also burdened with a massive debt load. It also did something that Edwards felt was a major misstep for the company – it got Remington further away from doing what it should have, making the best firearms possible.
So why buy Remington? “It just seemed like the right thing to do,” Edwards said. “I grew up with Remington products in my hands, and I’m just really passionate about the product and the people they have. They suffered from, I hate to say it, but poor ownership. They’d fix one problem and then a new tidal wave of financial burden would come. It’s an iconic American brand, one of the oldest, continuously operating manufacturing companies in our country, and they make great stuff if they are given the resources and the time to do it.”
In reading comments from readers and on social media, some people feel that this is just another instance where an investment firm buys Remington, and tries to run the company differently than how a firearms manufacturer should run. Edwards assured me that this is not the case. “We have the means. We have the passion and we’re going to give them the tools so they can go do their jobs and stay out of their way.” [full article]