July 13th, 2017

Cabela’s Shareholders Approve Buyout by Bass Pro Shops

Bass Pro Shops Acquires Buys Cabela's Retail Chain Billion Merger

It’s official, Cabela’s is being acquired by Bass Pro Shops. The Shooting Wire reports:

Cabela’s Shareholders Approve Bass Pro Shops Merger
“It only took about 35 people around 20 minutes yesterday to approve a $4.2 billion merger that’s been lingering for months. Backed by what Cabela’s CEO Tommy Milner calls ‘overwhelming support’, the shareholders of Cabela’s approved [the] proposed merger with Bass Pro Shops. Under the current terms, shareholders will receive $61.50/per share for the stock which has been trading in the $58.90-$59.94 range. After the merger, the companies will be based in Springfield, Missouri. No word on how many of the 1,000 workers in Cabela’s Sydney, Nebraska, headquarters will be retained.”

Bass Pro Shops will acquire popular outdoor retail chain Cabela’s (NYSE:CAB) in a $4.2 billion deal expected to close in Q3 of 2017. According to The Street: “Cabela’s agreed in April to be bought by Bass Pro Shops for $61.50 a share, down from the original purchase price of $65.50 a share, valuing the acquisition at $4.2 billion.” After the merger, Bass Pro will continue to recognize Cabela’s CLUB points, and the branded credit cards will be serviced by Capital One.

History of Two Major Outdoor Retailers

Founded in 1961 by Dick, Mary and Jim Cabela, Cabela’s is a highly respected marketer of hunting, fishing, camping, shooting sports and related outdoor merchandise. Today, Cabela’s has over 19,000 “outfitters” operating 85 specialty retail stores, primarily in the western U.S. and Canada. Cabela’s stores, catalog business and e-commerce operations will blend seamlessly with Bass Pro Shops and White River Marine Group. Over the past 55 years Cabela’s has built a passionate and loyal base of millions of enthusiasts who shop both at its retail stores and online.

Bass Pro Shops, founded in 1972 by avid young angler Johnny Morris, is a leading national retailer of outdoor gear and apparel, with 99 stores and Tracker Marine Centers located primarily in the eastern part of the U.S. and Canada. Morris started the business with eight square feet of space in the back of his father’s liquor store in Springfield, Mo., the company’s sole location for the first 13 years of business. Johnny’s passion for the outdoors and his feel for the products and shopping experiences desired by outdoor enthusiasts helped transform the industry. Bass Pro Shops, which employs approximately 20,000 team members, has been named by Forbes as one of “America’s Best Employers.”

Similar Posts:

Tags: , , , ,