It also announced that it would no longer produce Bushmaster, TAPCO, DPMS, and StormLake Barrels. In January 2020, the parent entity, Remington Outdoor Company, announced that it would focus operations on its core hunting and shooting brands: AAC, Barnes, Remington, and Marlin.
Those who chose to give up their shares would be paid by an unidentified lender. According to the company: "It is apparent that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level." Ĭerberus announced in late 2013 that it had failed to divest itself of the Freedom Arms group and planned to buy out some Cerberus investors. Cerberus indicated that the decision to sell the company stemmed from publicity surrounding the use of a Bushmaster rifle in the Sandy Hook Elementary School shooting.
In a press release, Cerberus stated that they would "retain a financial advisor to design and execute a process to sell interests in Freedom Group" (Freedom merged with the former Bushmaster company). In December 2012, Cerberus Capital Management announced its intention to sell Bushmaster's successor company, Freedom Group. Windham Weaponry was founded by the former Bushmaster owners in 2011 in Windham, ME "to put Maine people back to work who lost their jobs" when Bushmaster moved out of state in March 2011. In December 2010, Freedom Group announced that operations at the Windham, Maine, facility would cease as of March 2011. The company became part of the Freedom Group, owned by Cerberus Capital Management, in April 2006. ĭyke sold the business in 2006 for $70 million to Cerberus Capital Management. The company cited mounting legal fees and compassion for the victims and their families as the reason for settling. On September 8, 2004, Bushmaster agreed to pay $550,000 of a $2.5 million settlement in the lawsuit and Bull's Eye Shooter Supply of Tacoma, Washington, the Bushmaster dealer from whom one of the perpetrators said he had shoplifted the rifle, paid $2 million. sniper attacks, which resulted in the deaths of ten and injuries to three people. In 2002, Bushmaster and a Bushmaster dealer were the subjects of a civil lawsuit brought by two survivors and six families of victims of the October 2002 D.C.
According to a Maine newspaper, Dyke later sold Bushmaster to Cerberus, while Krause Publications reports that Quality Products Company first acquired it in 1990. It went bankrupt, was purchased by Richard Dyke in 1976, and moved to Windham, Maine. Bushmaster Firearms was initially located in Bangor, Maine. Bushmaster was the successor of Gwinn Firearms, founded by Mack Gwinn, Jr upon his return from the Vietnam War.
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