BREAKING: Remington Calls “Smart Gun” Company’s Bid to Buy Remington a “Publicity Stunt”
As we reported last night, a company that specialized in smart gun technology has made a bid to purchase Remington and other brands owned by The Freedom Group. We reported that it appeared to just be an attempt at acquisition and nothing was set in stone. It actually seems to be even lower priority than that.
The move is being called a “publicity stunt” by The Freedom Group and a memo further goes on to call the offer “not worth their time”.
The memo, obtained by Grand View Outdoors, states,
“A small, unknown investment entity publicly announced its desire to acquire the Remington Outdoor Company,” says the memo, which was written by company CEO George Kollitides and obtained by Grand View Outdoors. “If this wasn’t disruptive to our employees and customers, we would not acknowledge the news and recognize it for what it is: a publicity stunt from an agenda-driven group with no credible financing options.”
Global Digital Solutions Inc., a company that specializes in smart gun technology made the official, unsolicited offer in the last several days. It is widely known that Cerebus Group, the current owners of Freedom Group, have been tentatively shopping around for a buyer for the gun conglomerate.
Remington/Freedom Group didn’t just dismiss the offer as ludicrous, they dismissed it with prejudice,
“Further evidence of [Global Digital Solutions’] misguided agenda is all over the entity’s website that displays logos of every major firearms maker and lays out a mission to introduce smart gun technology to the industry; something the consumer doesn’t want,” Kollitides’ memo says.
Good job by Remington/Freedom Group for dismissing the offer so quickly. I’m sure this so called publicity stunt will only hurt the reputation of Global Digital Solutions and their “smart gun” technology.