Thanks,... VERY INTERESTING.... the potential buyer AND the fact that it will be very good news for Remington.... . btw ... I received $200 from Remington Arms in the mail just yesterday. I appreciate that they didn't include those rebates in their bankruptcy filing.
Remington Ammo Receives $65 Acquisition Bid
Based in Columbia, S.C., JJE Capital operates as a private equity firm. No stranger to the firearm industry, JJE’s stalking horse bid puts it in position to acquire the ammunition business, reported Bloomberg Law.
For those unfamiliar, a “stalking horse bid” establishes the low-end bid so any other potential bidders can’t underbid the purchase price.
JJE already lists DC Machine, Lead Star Arms and Palmetto State Armory within its portfolio companies. So the company is well-versed in the industry, especially with PSA. Adding Remington Ammunition seems to make a lot of sense. The Bloomberg report also stated that Remington reserved the right to give notice to a stalking horse bid on the firearm business as well.