Remington Arms Co. Inc. announced plans to acquire Marlin Firearms Co. Under the agreement, Robert Behn will remain president of Marlin. The deal is expected to close in January.

Terms were not disclosed.

Remington, based in Madison, N.C., manufactures guns and ammunition for hunting, law enforcement, security, government and the military. Marlin, which is based in North Haven, manufactures long guns, including shoulder arm designs and lever action rifles. Marlin's lever action .22 repeater, now the Model 39, became the favorite of many exhibition shooters, including Annie Oakley.

“The opportunity to combine two historic U.S.-based companies with such storied and proud histories, is both challenging and exhilarating,' said Tommy Milner, Remington's CEO.

Frank Kenna III, chairman of Marlin, said finding a buyer for the 83-year-old family-run business is an important next step for the company, which was established in 1870.

“We knew it was time to find the right partner for Marlin to ensure our brands maintain their leadership positions and move into the next century,” he said.

Marlin also owns Harrington and Richardson, New England Firearms and LC Smith brands of rifles and shotguns.