Cabela’s Shareholders Approve Buyout by Bass Pro Shops
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
CABELA’S
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
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.”
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Tags: Bass Pro Shops, Cabelas, Merger, Retail, Stock Market
Wow! I hate that. Now they’ll put Bass Pro’s VERY VERY high prices on Cabala’s stuff as well. I went to both recently and bought some reloading supplies. Bass Pro was $3 dollars a pound higher on the exact same rifle powder and $7 dollars higher on the exact same brick of primers!!
Wow! What could possibly go wrong when there is a monopoly? Stores close, prices go up, variety decreases. Not to mention the impact on the employees.
Completely agree with both comments . Have a Cabella’s about 2 miles away , and a Bass Pro about 35 miles away , in Mesa . Every single time I have ever gone to Bass Pro , I have to go up three flights of stairs , and off to the side of the floor . They ( Bass Pro ) make it very clear to customers that “shooters” are not high on their list of customer priorities . Have always received excellent service from Cabella’s by comparison . Guess I’ll be spending a lot more of my shooting dollars at Sportsman’s Warehouse , and Bruno’s . I don’t do “fee-shin”!
We do not have Cabelas in Vegas, but we a Bass Pro shop about 5 miles from my home…..I will order off the internet from Cabelas before going to Bass Pro. Their prices are a lot higher. We just got a new Sportsmans Warehouse in Henderson and I am spending my money there now….. I use to drive 28 miles to the Sportsmans Warehouse in the north end of the valley, so that should put it in prospective. Sorry to see this merger..Not good for sportsmen.
Big box stores with merchandise to actually handle are under pressure these days. I might suggest to both names that a gradual expansion of their competitive target sports lines – relative to say bear hunting – may be in line with the wishes and dollars 40 something avid shooters who wants to see both bears and big box stores thriving in their 80’s.
with bass pro, cabela’s and sportsmans warehouse all within 10 miles of home, the decision is based on knowledgeable customer service and pricing and sportsmans beats bass pro and cabela’s by a huge margin.
If you like your local gun store, you’d better support it because 90% will close over the next few years because of internet sales…all they can offer (which is a lot) is customer service.
I have my name on a patten for ” The Ultimate Decoy” at Cabelas! I was never notified of the sale of Cabelas! Can’t sell them that Decoy without my knowledge! Unless it’s going to be discontinued for good permanently!