by Joseph P. Tartaro | Executive Editor
Cabela’s Incorporated said July 11 that its shareholders approved the company’s sale to Bass Pro Shops of Springfield, MO, as reported by KY3 TV.
The vote was at Cabela’s headquarters IN Sidney, NE, following the announcement earlier in July by the Securities and Exchange Commission that it had approved the transaction, variously reported at $4 million, $5 million and $5.5 million, with Cabela’s shareholders being paid $61.50 per share.
Bass Pro and Cabela’s first announced the deal last fall.
In addition to selling Cabela’s stores, website and catalog business to Bass Pro, Cabela’s plans to sell its credit card unit.
Bass Pro Shops hasn’t said how many of the roughly 2,000 jobs based in Sidney will remain after the sale closes. Johnny Morris and his family own Bass Pro Shops; its headquarters is in Springfield.
“The transaction is expected to close in the third quarter of 2017, subject to regulatory approvals and customary closing conditions,” Cabelas’ said in its news release.
“We are pleased that our combination with Bass Pro Shops has received the overwhelming support of Cabela’s shareholders,” Cabela’s CEO Tommy Millner said in a statement. “Today’s results are an important milestone as we look forward to completing the merger and creating the premier retailer in outdoor sporting goods, with an unparalleled commitment to customer loyalty and satisfaction.”
Noted the St. Louis Business Journal:
“With every retail acquisition comes store closures, and Bass Pro Shops’ $5.5 billion purchase of Cabela’s could deliver a major blow to the already floundering St. Louis Outlet Mall, whose biggest retail store is Cabela’s. But analysts say the Cabela’s acquisition may transform the Springfield, Missouri-based Bass Pro into the leader of the $46 billion sporting goods industry, putting the company in new markets and giving it a more specialized niche that could lure in big profits.”
Mergers & Acquisitions
In other firearms business news, American Outdoor Brands Corporation announced on July 5 that its firearms business, Smith & Wesson Corp., has agreed to acquire substantially all of the assets of Gemini Technologies, Incorporated (“Gemtech”), a provider of high quality suppressors and accessories for the consumer, law enforcement, and military markets.
James Debney, president and CEO of American Outdoor Brands, said, “Gemtech is widely recognized for producing some of the finest rifle and pistol suppressors in the market. Gemtech’s strong product development capabilities, combined with our experience in brand management and our manufacturing expertise, will help us to efficiently develop both firearms and suppressors, minimizing our time to market for both product categories. We view this acquisition as opportunistic, allowing us to enter the suppressor category, which resonates strongly with our core firearm consumer, at a time when the market is particularly soft. These elements combine to make Gemtech an excellent fit with our long term strategy.”
The company intends to complete the acquisition of Gemtech utilizing cash on hand and expects the transaction to close this summer. Ron Martinez, President of Gemtech, will continue in his leadership role as General Manager, heading up the company’s strong team located in Eagle, ID.
And ScentLok Technologies, a leading manufacturer of premium, scent-controlling products, announced its acquisition of Robinson Outdoor Products. The transaction, finalized on July 6, includes all assets of Robinson Outdoors, including the ScentBlocker®, ScentShield®, Tree Spider® and Whitewater Outdoors® products and brands, as well as all patents and intellectual properties.
Founded by Bill Robinson in 1985, Robinson Outdoors introduced Scent Shield®—a human odor eliminating spray for hunters—during its initial year in business. In 1997, the company began offering their ScentBlocker® line of activated-carbon clothing. Robinson Outdoors acquired Whitewater Outdoors® in 2003 and branched into non-scent-controlling clothing. Additional innovations ensued as these brands matured; Robinson Outdoors introduced Tree Spider® tree stand safety products in 2010 and then launched the revolutionary Trinity™ synthetic odor-control technology in 2013.
“The Robinson portfolio of products and loyal customers is powerful and wide-ranging,” says Patrick Hylant, Owner and CEO of ScentLok Technologies. “Our company’s goal is to offer total odor-management solutions while maintaining the highest levels of customer satisfaction, and this acquisition will help us fulfill that mission. We don’t need to be the biggest; we just want to be the best. Our research and development team has already begun looking at the various Robinson technologies. We’re improving on them and finding their best applications. Customers can expect to see some of that DNA incorporated into new products as early as next year. We will continue to relentlessly drive to solve real problems for real customers and bring the absolute best products to market.”
And while certain technologies may cross over between brands, ScentLok is clear that it plans to invest in the ScentBlocker and other Robinson brands and products separate from the ScentLok name and product lines.
It is expected that all operations will be consolidated into the ScentLok offices and distribution centers located in Muskegon, MI.
Shottist, a purveyor of custom holsters for over 30 years, has announced it is under new management. Andy Langlois, founder of Andy’s Leather and Shottist, has sold Shottist to Merle Schlabach, a third-generation leather worker.
“We’re very excited about the acquisition of Shottist. Andy is going to stick around, consult and help keep us up to date with the latest in gun industry trends and needs. I’ve been working with leather since I was 12-years-old; I think combining Andy’s gun industry knowledge with my 36 years of leather working experience is a great combo and we look forward to making holsters that people can appreciate for years and pass on to future generations,” said Schlabach.
Schlabach lives in an Amish community in the rural green rolling hills of Campbell, IL. He is a third-generation leather worker and learned the trade from his father, who learned it from his father-in-law. Schlabach’s sons are fourth-generation leather workers and will be helping with Shottist.
Finally, Shell Shock Technologies, LLC., of Westport, CT, an early stage technology and manufacturing company focused on developing innovative case technologies for the ammunition industry, has announced the launch of its newly formed, high-volume manufacturing subsidiary, ShellTech.
The new manufacturing plant will open in Pulaski County in Eubank, KY, focusing on the manufacture of Shell Shock Technologies’ NAS3 cases. With an investment of approximately $3.2 million, ShellTech aims to create 50 new full-time jobs within Pulaski County.
ShellTech will assemble NAS3 cases under a long-term contract from its parent company. The 14,000-square foot facility was previously used for the contract-manufacturing and loading of all Sig Sauer ammunition. ShellTech will begin by assembling Shell Shock Technologies’ popular 9mm cases, but will soon add 5.56 mm, .308, .45 ACP, 380 and .40 S&W cases, along with an assortment of other popular pistol and rifle calibers.
Founded in 2015, Shell Shock Technologies, LLC is an early stage technology and manufacturing company focused on developing innovative case technologies for the ammunition industry. Shell Shock is a component manufacturer supplying shell cases to the shooting sports market, as well as to US and foreign ammunition manufacturers, law enforcement, military and other government agencies. Shell Shock does not load ammunition.
