NATIONWIDE — Two major outdoor companies have merged after Bass Pro Shops purchased Cabela’s Incorporated for $5.5 billion, it was announced on Oct. 3. The purchase will allow Bass Pro Shops to expand its nationwide presence as the go-to store for boating, fishing and hunting goods.
Bass Pro Shops, which owns 99 stores, purchased all of Cabela’s 85 locations, meaning the new company could have at least 184 locations in the United States and Canada.
Cabela’s was bought out for $65.50 per share, according to terms of the deal released by Bass Pro Shop.
The buyout and expansion includes White River Marine Group, which is part of Bass Pro Shops.
“A driving force behind this agreement is the highly complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses,” read a statement published by Bass Pro Shops. “The essence of both Bass Pro Shops and Cabela’s is a deep passion to serve outdoor enthusiasts and support conservation. The combination brings together three of the nation’s premier sporting brands: Cabela’s, a leader in hunting; Bass Pro Shops, a leader in fishing; and White River Marine Group, a worldwide leader in boating, which is part of Bass Pro Shops.”
Cabela’s was founded in 1961 as a retailer catering to anglers, boaters and hunters and other outdoorsman. Its stores are primarily in the Western United States and portions of Canada.
Angler Johnny Morris founded Bass Pro Shops in 1972, which has since expanded to 99 locations in the Eastern United States and portions of Canada.
Further details of the transaction can be found on the Bass Pro Shops website.
(Image Courtesy Bass Pro Shops)