Did you see where Disney bought Lucasfilm this week? They’ll be producing a new Star Wars Episode VII now, too. We can only hope that the $4 billion (that’s billion with a ‘b’) paid to ol’ George will keep him so busy diving into his coinage a la Scrooge McDuck that the new flick will spare the movie-going public another Jar Jar Binks-like fiasco. Speculation is George cashed out before the end of the year to avoid higher capital gains taxes that kick in January 1. And maybe that’s what’s behind TAPCO’s decision to go over to the Freedom Group dark side now, too. Nick seemed to think their budget-priced AR furniture is pretty OK. But things may change in Kennesaw once TAPCO’s been fully pulled into the FG mother ship by that tractor beam of cash. Careful boys, that’s no moon . . . Press release after the jump.
Madison, NC – Remington Arms Company, LLC (Remington), part of the Freedom Group Family of Companies, announced today it has acquired The American Parts Company Inc. (TAPCO).
TAPCO is a designer and marketer of American-made aftermarket accessories and replacement parts for handguns, rifles, shotguns, modern sporting rifles and other tactical firearms. All aspects of the product development cycle are managed from within the company. State of the art computer aided design, rapid prototyping and extensive testing have allowed TAPCO to bring innovative and dependable products to the shooting marketplace.
“TAPCO has been in business for more than 25 years and has established market strength through its high quality U.S.-made products,” said George Kollitides, Chairman and Chief Executive Officer of Freedom Group. “This acquisition will enhance our positioning in the accessories market and allow us to further our research and development capabilities.”
“With the acquisition of TAPCO, Remington continues to demonstrate its commitment to the firearm parts and accessories business,” said Scott Blackwell, President of Freedom Group. “TAPCO is well-known as a leader in delivering innovative and dependable products to the shooting marketplace. We are excited about the breadth of the products they bring to our portfolio, and we look forward to utilizing our resources to ensure our consumers and OEM partners benefit from this important acquisition. We welcome TAPCO and its employees into our family of companies.”
TAPCO will continue day-to-day operations at its Kennesaw, Georgia, facility.