Freedom Group

Freedom Group
Private
Industry Firearms, Defence
Founded 2007 (2007)
Headquarters Madison, North Carolina, United States
Area served
 worldwide
Key people
 James Marcotuli (CEO)
l (President)
Products Pistols, Rifles, Carbines, Shotguns, Ammunitions, Accessories, Clothing
Brands Remington
Bushmaster
Advanced Armament
Marlin Firearms
H & R Firearms
Dakota Arms
Para USA
Parker Gun
Tapco
Barnes Bullets
Mountain Khakis
Revenue Increase US$ 848.7 million (2009)
Increase US$ 24.4 million[1] (2009)
Owner Cerberus Capital Management
Number of employees
 >3,000
Website www.freedom-group.com

Freedom Group is an American firearms manufacturer holding company which has acquired notable brands such as Bushmaster, DPMS, Remington and Marlin.[2]

History

In March 2012, Robert Nardelli stepped down as CEO of Freedom Group and as head of the operations and advisory business of Cerberus Capital Management LP and became adviser to Stephen Feinberg, the head and founder of Cerberus. He became CEO of Freedom Group in September 2010 as the North Carolina-based gun maker searched for a permanent CEO. The current chief executive officer is James Marcotuli].

In December 2012, citing the Sandy Hook Elementary School shooting as "a watershed event that has raised the national debate on gun control to an unprecedented level," Cerberus announced it would sell all of its investments in Freedom Group. The private equity firm said it would retain a financial adviser to sell its interests in Freedom Group, and would return the proceeds to investors.[3][4] The decision was made after a California pension board, a Cerberus stakeholder, announced it would dispose of all stakes it held in firearms manufacturers that make weapons banned by state law. As of November 2015, Cerberus still owns the company.

References

  1. ↑ "Freedom Group". IPO Scoop.
  2. ↑ "Remington Outdoor Company Announces Management Changes". Business Week. New York: Bloomberg. June 9, 2015.
  3. ↑ Cerebus Capitol Management. "Cerberus Capital Management Statement Regarding Freedom Group, Inc." (Press release). PRNewswire. Retrieved 18 December 2012.
  4. ↑ Nagourney, Adam (December 18, 2012). "Broad Gun Control Efforts Introduced in Wake of Shooting". The New York Times. Retrieved December 19, 2012.

Further reading

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