Bass Pro Shops has reportedly sealed the deal to acquire Cabela’s in a mega-deal worth $5.5 billion, according to published reports.
The announcement came just as fall hunting seasons are cranking up across the landscape, and includes a $65.50 per share payment to Cabela’s shareholders, according to CNN and USA Today.
For many years, the two big national chains and catalog stores had been competitors, but it has been reported that Cabela’s has been losing some market share to smaller online retailers. Sales in stores had fallen 1.3 percent for the first half of this year, USA Today reported.
Still, they are the giants of outdoor merchandising, with hunting, shooting, fishing and camping gear, including clothing, footwear, reloading supplies, and virtually everything necessary for the outdoors. Bass Pro even has its own boat line, the Bass Tracker family.
Known for their strong outdoor themes in retail stores, both Bass Pro and Cabela’s have successfully built faithful followings among sportsmen and women across North America.
Founded by James and Richard Cabela more than 50 years ago, Cabela’s became a giant in direct retail sales and marketing for the outdoors. Their retail stores are much more than mere department stores, with trophy mounts, live aquariums and much more. The company went public 12 years ago.
Bass Pro Shops was founded in 1971 by Johnny Morris, and has also grown to become both a direct marketing and retail chain with stores that also feature an outdoors theme.
According to USA Today, Bass Pro Shops operates about 99 stores and employs 20,000 people. Cabela’s had 85 stores with approximately 19,700 employees at the end of last year. It was not immediately known if the sale would result in any job losses, but it was reported that the combined companies will continue some operations in Lincoln and Sidney, NE.
