Powell Max Limited, a Nasdaq-listed company trading under the ticker PMAX, disclosed on September 28 via a press release filed through GlobeNewsWire and a Form 6-K submitted to the Securities and Exchange Commission that it has signed a share exchange agreement with Blackrod Holdings, LLC — the current parent company of Remington Firearms — laying the groundwork for a full acquisition of the iconic American gunmaker. The parties have targeted an enterprise value range of $200 million to $250 million for the eventual business combination.

The initial transaction is a share exchange. Powell Max issued approximately 262,000 Class A ordinary shares to Blackrod, representing 19.99 percent of its total outstanding Class A shares, in exchange for newly issued membership units representing a 1.5 percent equity stake in Blackrod. The exchange gives Powell Max a minority stake and a contractual foothold in the business while the two sides negotiate a definitive agreement for a complete combination.

Built into the share exchange agreement is a 12-month exclusivity period that bars Blackrod and its members from soliciting, entertaining, or entering into competing acquisition proposals so long as the agreement remains in effect. The restriction effectively gives Powell Max an uncontested window to finalize the financial and legal structure of the larger deal. Both parties acknowledged in the announcement that completion of the full combination is subject to further negotiation and cannot be assured.

Remington Firearms ranks among the oldest continuously operating gunmakers in the United States, with roots going back to 1816. The brand remains one of the most recognized names in American sporting arms, associated with bolt-action hunting rifles, pump-action shotguns, and semi-automatic platforms that have been in continuous production across most of the company's history. Remington Firearms reemerged after a 2020 Chapter 11 restructuring and has been producing rifles and shotguns from its Alabama manufacturing facility. Remington Ammunition operates separately under the Federal parent company Kinetic Group and is not part of the Powell Max deal.

For Powell Max, the transaction represents a significant strategic pivot into the domestic firearms market. The Remington brand carries substantial retail recognition and a deep catalogue of existing models, which would give an acquirer an immediate position in the hunting and sporting-arms segment without the years of brand development required to build comparable market presence from scratch.

The next milestone to watch is whether Powell Max and Blackrod complete the definitive agreement before the 12-month exclusivity window closes. If they do, the combination would require additional regulatory and shareholder approvals before Powell Max could formally consolidate Remington Firearms onto its balance sheet.


The company was incorporated in 2019 and is headquartered in Central, Hong Kong. Powell Max Limited operates as a subsidiary of Bliss On Limited.