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Rumor Control: The Truth About Cerberus/Freedom Group

Friday, July 20, 2012

An old rumor has once again resurfaced alleging that Cerberus--the private equity firm that owns Freedom group, a holding company that in turn owns a number of firearms manufacturers, including Remington, Marlin, Bushmaster, and DPMS--is in some way tied to George Soros.

This rumor is completely false and baseless.

Following is a statement from Freedom Group, Inc., addressing the rumor:

Despite rumors to the contrary, Cerberus Capital Management, L.P., the firm which owns Freedom Group. Inc. (FGI), the holding company for such firearms manufacturers as Remington, Marlin, Bushmaster and DPMS, is in NO WAY affiliated with anti-gun activist George Soros.

George Soros has never been a part of Freedom Group or Cerberus.  Further, as Cerberus is a privately owned corporation, run by sportsmen, shooters and firearms enthusiasts, we can say with great sincerity and certainty that George Soros will never be a part of the Freedom Group family of companies.

"If anyone should know whether George Soros is affiliated with either Freedom Group or Cerberus, it's me," said George Kollitides, Executive Chairman and Chief Executive Officer of FGI.  "I spent the last eleven years of my career at Cerberus and just recently stepped down to become executive chairman and chief executive officer of FGI.  I did this in order to devote 100 percent of my time, effort and passion to a company I spent years building.   I can emphatically proclaim, without the slightest of doubt, that George Soros has never, does not and never will own or be affiliated with Cerberus or Freedom Group.”

To learn more about FGI, our officers, directors and owners, we encourage you to visit our website www.freedom-group.com.

For third-party, independent confirmation of our statement, we encourage you to visit any of the following unaffiliated web sites:

Snopes.com
http://www.snopes.com/politics/guns/freedom.asp

Factcheck.org
http://www.factcheck.org/2011/10/george-soros-gun-grab/

Field and Stream
http://www.fieldandstream.com/blogs/gun-nuts/2011/10/how-not-write-rot-and-evil

Ammoland (National Rifle Association)
http://www.ammoland.com/2011/10/17/internet-rumors-about-cerberus-freedom-group-are-patently-false/#axzz1r6XlXa7T

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Established in 1975, the Institute for Legislative Action (ILA) is the "lobbying" arm of the National Rifle Association of America. ILA is responsible for preserving the right of all law-abiding individuals in the legislative, political, and legal arenas, to purchase, possess and use firearms for legitimate purposes as guaranteed by the Second Amendment to the U.S. Constitution.