NORTH HAVEN — The Remington Arms Co., reported Friday that it will buy Marlin Firearms Co. for $41.7 million.
The value of the transaction was disclosed in a filing with the U.S. Securities Exchange Commission.
Remington, a North Carolina affiliate of Cerberus Capital Management, announced Wednesday that it entered into an agreement with Marlin, and the transaction is expected to close by the end of January.
Remington, founded in 1816, designs and manufactures guns and ammunition for the hunting and shooting sports markets, the military and law enforcement agencies.
Marlin, established in 1870, produces lever and bolt action and semiautomatic rifles and a variety of break-open single-shot shotguns. Marlin also has a plant in Gardner, Mass.
Remington spokesman Al Russo said the company has about 2,000 employees but did not have a figure for Marlin. Data compiled by Hoover, a firm that researches profiles of companies, industries and corporate executives, reports 575 workers at Marlin.
No layoffs or closures are anticipated right now, and most products made by both companies are produced in the U.S., Russo said.
In general, employers with 100 or more employees, not counting those who have worked less than six months in the last 12 months and not counting employees who work an average of less than 20 hours a week, must provide advance notice of plant closings or mass layoffs under the federal Worker Adjustment and Retraining Notification Act.
State Department of Labor spokesman Paul Oates said that if Remington decides to take such action, WARN reports would not be filed until after the deal closes.
State Department of Economic and Community Development spokesman David Treadwell said the department does not have regulatory review over the transaction, but does want Marlin to remain in the state.
“We’d like to keep the company in Connecticut and we will work with them to be of any assistance in that regard,” Treadwell said.
Russo said Remington will buy the Marlin affiliates Harrington and Richardson, New England Firearms and LC Smith under the deal. Those subsidiaries make rifles and shotguns.
Marlin’s product lines would “complement” those of Remington’s, Russo said. “They have some competing products but not many,” he said.
In its third quarter filings submitted to the U.S. Securities and Exchange Commission in September, Remington reported $548.5 million in assets and $426.7 million in liabilities.
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