SOUTHPORT, Conn.--(BUSINESS WIRE)--Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that the closing of its acquisition of substantially all of the Marlin Firearms assets occurred on Monday, November 23. The agreement to purchase these assets emanated from the Remington Outdoor Company, Inc. bankruptcy and was approved by the United States Bankruptcy Court for the Northern District of Alabama on September 30, 2020. The purchase price of approximately $28.3 million was paid with available cash on hand.

Chief Executive Officer Christopher J. Killoy noted the excitement that has permeated the firearms industry in anticipation of the confluence of these two iconic firearms brands, “Since we announced the agreement to purchase Marlin in September, we have heard from countless members of the firearms community - consumers, retailers, distributors, writers, and collectors - who are delighted that legendary Marlin rifles are now part of the Ruger product family. We are excited to start moving these assets to our Ruger facilities and setting up the manufacturing cells that will produce Marlin rifles for years to come. We look forward to re-introducing Marlin rifles in the latter half of 2021.”

About Sturm, Ruger & Co., Inc.

Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. With products made in America, Ruger offers consumers almost 800 variations of more than 40 product lines. For more than 70 years, Ruger has been a model of corporate and community responsibility. Our motto, “Arms Makers for Responsible Citizens®,” echoes our commitment to these principles as we work hard to deliver quality and innovative firearms.