Ronnie Barrett
You never get out of a business that you were born into. Think all gun people are born gun babies. It's just their way. So I am selling the company, but since I was a child, I’ve been a gun guy. I shot BB guns, .22s, and now I’ve fired everything from tanks to every weapon that they've made.
But there's a time for a business in America, that you have to look at an exit strategy. You have to plan for your death.
And since we have the death tax here in the United States, there is no way to have a 500 year old company like Beretta or something like that.
So the business has to be transferred over for the good of the business and for the good of the employees, so that it will continue to grow.
So after 40 years now is a good time for Ronnie Barrett to to turn the company over to another very similar company, which is Nioa. Nioa is a family-owned business. They started around when we did. They've got a young Rob, Robert Nya, this is a younger man that's going to be able to carry on with with the same quality or products and quality of employees. Everything that we have done. I mean, they're virtually mirror image companies - just on two sides of the world.
I think Nioa is going to bring Barrett and into some more diverse things, too. So you're gonna see some of the very diverse things that they're doing, from artillery rounds to missile defense and things like that.
Hopefully, we'll come up with new ideas over here too, even if it just means Barrett continues to be the leaders in long range. That’s what Barrett is, you know. We have done a magnificent job of that our, our quality shows when you pick up one of the rifles, look at it. I've been with some of their managers and some of their people. And I see that they're the same folks. They're knowledgeable, they know what they're doing. They don't have to be micromanaged. And that's where Barrett’s been operating at for a really long time.
But I didn't notice it until COVID came around. We had to work through that - because we had defense contracts.
So everybody stayed at work - except for Ronnie who has some artificial heart valves and artificial aorta. So obviously, “Dad, you just have to stay home, you can't come out here”
Well, nothing was easy. But the company ran just fine. You know… it did not take Ronnie there every day doing everything, because Chris Barrett had hired Brad James and Sam Shallenberger, and several other good people. And they knew what they were doing.
And they were in place. And it was just smooth sailing.
So I thought, well, now this is this is interesting. Open your eyes. Yes.
So when it came time to, you know, the thing, we had to start working on an exit strategy and a way to pass things down to the grandchildren.
Right? We might delete this out…but there comes a time where you hear horror stories about somebody who had this big, multi 1000 acre ranch, family was doing good, everything's good.
The guy that owned the ranch dies, and suddenly his children are broke. Because they have an inheritance problem that they can't pay.
There's not liquid money laying around to pay millions and millions of dollars in inheritance taxes.
You got to start working on that years in advance, just so you'll be able to die.
So we did that.
And all of this is a part of the the strategy to be able to leave things on to the to your heirs without losing it all to Washington. That doesn't really blow my skirt up, sending our hard earned money, you know, to wastrels. Yeah.
You know, so I didn't mean to get into politics like that, but it's kind of the it's part of an overall phone.
So you do what you can to protect your company. And we are serving soldiers that are putting their lives on the line…they need the product.
And, you know, every one of our rifles that's ever been adopted by the US government, you can still buy. So there's still a need for them. Barrett is the first time a father and son have both had their rifles adopted by the US government. That’s never heard of in our history.
So somebody has to be here to make sure that our service people are going to be able to get the equipment. It would have been selfish of me not to make plans for progress — and everybody stays in Murfreesboro. All of our staff is there. I know…