|
|
February 18th, 2022
Big news in the Outdoor Sports retail industry — the Merger of Bass Pro with Sportsman’s Warehouse is NOT going to happen — the buy-out effort is halted. Under a planned merger deal, announced in late 2020, the Great American Outdoors Group, which now owns Bass Pro and Cabela’s, was going to purchase Sportsman’s Warehouse for $785 million. In 2017 Great American acquired Cabela’s for more than $4,000,000,000 (four billion). Great American (based in Missouri) was going to pay $18 a share for Sportsman’s Warehouse, a significant premium over the listed stock price. Sportsman’s Warehouse Holdings Inc. will now continue to operate independently from its HQ in West Jordan, Utah.
According to the Springfield Missouri News-Leader, the deal collapsed because of Federal Trade Commission (FTC) opposition, among other factors: “Nearly a year after Bass Pro entered into a merger agreement with Utah-based Sportsman’s Warehouse Holdings Inc., the deal is off, according to a federal filing dated Dec. 2 by Sportsman’s Warehouse. The filing stated that feedback from the Federal Trade Commission led both companies to believe that the deal would not get FTC approval.”
As listed in a Sportsman’s Warehouse SEC filing, Bass Pro’s parent company Great Outdoors LLC will pay Sportsman’s Warehouse $55 million to terminate the merger.
According to Bloomberg, the cancellation of the merger is related to a 2021 Executive Order by President Biden instructing Federal regulators to boost competition in retail industries. Bloomberg also noted Sportsman’s Warehouse stock dropped signficantly after the planned merger was canceled.
Sportsman’s Warehouse Revenues Boosted Dramatically by Hunting and Shooting Sales
Jon Barker, President/CEO of Sportsman’s Warehouse Holdings, Inc., was disappointed that the Bass Pro merger did not go forward. However his company’s revenues are booming. According to SGB Online: “Sportsman’s Warehouse’s same-store sales surged 48.3% in fiscal year 2020 compared to fiscal year 2019. The gains were led by its hunting and shooting department, which showed a same-store hike of 70.0%. Hunting and shooting grew to account for 57.6% of Sportsman’s Warehouse’s sales in the year, up from 49.1% the prior year.”
Both Bass Pro and Sportsman’s Warehouse Have Billions in Revenue
Had the merger gone through, approximately 110 stores (and $1.45 billion in sales) would have been added to the Great American Outdoors Group retail empire. SGB Online reported: “According to Moody’s, Bass Pro had revenues in the twelve months ended September 26, 2020, of $7.1 billion. Sportsman’s Warehouse’s sales in 2020 were $1.45 billion.”
Share the post "Sportsman’s Warehouse Merger with Bass Pro Cancelled"
August 26th, 2021
Hunting season begins next month in many areas of the country. If you are planning a deer or elk hunt, but need to add essential gear items, head over to Cabelas.com. Right now Bass Pro and Cabela’s are running a Fall Hunting Classic Sale, with major discounts on rifles, camo clothing, GPS units, trail cams, and more. And there is a program that lets you trade in old hunting gear and get credits toward new equipment. Here are some good deals we found today on hunting products at Cabela’s.com:
NOTE: The $259.97 price includes current $50 Savage Factory Rebate. Cabela’s price is $309.97.
Get Discounts When You Trade In Older Hunting Equipment
Donate all working bows, crossbows, rifle scopes, binoculars, laser rangefinders, spotting scopes, game cameras, and gently worn hunting or rubber boots during trade-in dates and receive a discount coupon to be used toward the purchase of a new bow, crossbow, rifle scope, binoculars, laser rangefinder, game camera, hunting or rubber boots. Trade-ins will be inspected to ensure good working order, and then donated to local nonprofit organizations to help with their outdoor education programs.
Share the post "Get Ready for Hunting Season with Big Sale at Cabela’s"
July 13th, 2017
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.”
Share the post "Cabela’s Shareholders Approve Buyout by Bass Pro Shops"
October 4th, 2016
Bass Pro Shops plans to acquire popular outdoor retail chain Cabela’s (NYSE:CAB) in a $5.5 billion deal expected to close in the first half of 2017. The transaction will be completed through a cash-for-stock purchase by which Cabela’s shareholders will receive $65.50 per share, a premium of 19.2% over Cabela’s closing share price on September 30, 2016. After the merger, Bass Pro will continue to recognize Cabela’s CLUB points, and the branded credit cards will be serviced by Capital One. Details of the $5.5 billion-dollar buy-out are covered in the press release highlights below:
SPRINGFIELD, Mo. & SIDNEY, Neb. (Business Wire) — Bass Pro Shops and Cabela’s Incorporated (NYSE:CAB), two iconic American outdoor companies with similar humble origins, and with a shared goal to better serve those who love the outdoors, today announced that they have entered into a definitive agreement under which Bass Pro Shops will acquire Cabela’s for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion.
In addition, upon closing Bass Pro Shops will commence a multi-year partnership agreement with Capital One, National Association, a wholly-owned national banking subsidiary of Capital One Financial Corporation (NYSE: COF), under which Capital One will originate and service the Cabela’s CLUB, Cabela’s co-branded credit card, and Bass Pro Shops will maintain a seamless integration between the credit card program and the combined companies’ retail operations and deep customer relationships. All Cabela’s CLUB points and Bass Pro Shops Outdoor Rewards points will be unaffected by the transactions and customers can continue to use their credit cards as they were prior to the transaction.
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.”
The Cabelas.com website features this message to customers from Cabela’s CEO Tommy Millner:
| To Our Loyal Cabela’s Customers,
This morning, we announced that Cabela’s will merge with Bass Pro Shops and, upon closing of the transaction, will begin a multi-year partnership with Capital One whereby Capital One will exclusively service the Cabela’s CLUB Visa card.
We’re really excited about joining forces with Bass Pro Shops to create the truly premier retailer in outdoor sporting goods. We will be able to provide you with access to more locations and the greatest selection of outdoor recreation equipment and apparel in North America.
We have worked hard to ensure that this process is seamless to you. We currently expect to complete the transactions in the first half of 2017, subject to regulatory approvals and other customary closing conditions. Until closing, Cabela’s and Bass Pro Shops will continue to operate as separate, independent companies, as they always have. Additionally, we will continue to honor and offer Cabela’s Gift Cards. Please know that we remain committed to upholding the trusted relationship we have built with you and are focused on providing the exceptional service and experiences you have come to expect from us.
For our CLUB members, following the closing of the transaction, we expect to operate the Cabela’s CLUB program without change or interruption. You will see no change to how you earn, save or use your points, and your point balance will not change.
Thank you for your continued support of Cabela’s.
Sincerely,
Tommy Millner
Chief Executive Officer |
Share the post "Bass Pro Shops to Acquire Cabela’s for $5.5 Billion"
January 11th, 2013
Here’s a great bargain — maybe the NRA deal of the decade for gun guys. Right now, if you pay $25.00 for a one-year NRA membership (that’s $10.00 off normal price), you will get a Bass Pro Shops Gift Card worth $25.00. In other words, for every dollar you spend on your NRA membership, you get a dollar’s worth of merchandise at Bass Pro Shops. Imagine if you bought $25.00 worth of motor oil and got a gas card worth twenty-five bucks. Who wouldn’t jump at that? Well this is virtually the same deal. That $25.00 gift card can be applied to pretty much any merchandise in the Bass Pro Shops store: clothes, shooting supplies, hunting and fishing gear, even optics or a GPS.
If you take advantage of this great deal, you’ll also get a FREE annual subscription to one of three NRA-sponsored print magazines: American Rifleman, American Hunter, or 1st Freedom. (Junior members have the additional fourth choice of InSights magazine.) You’ll have to agree that a FREE magazine subscription sweetens the deal even more. CLICK HERE to learn more about this great offer.
You can fill out a membership application online, print and mail a sign-up form, or call 1-877-NRA-2000 to join by phone. But don’t wait too long — this is a limited-time NRA sign-up offer.
Share the post "Join the NRA for $25.00 and Get $25.00 Bass Pro Shops Gift Card"
|
