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Bass Pro Shops to Buy Cabela’s for $5.5 Billion

Two former rivals in the outdoor sporting goods industry are uniting.

On Oct. 3, Bass Pro Shops announced that it is acquiring Cabela’s Incorporated for about $5.5 billion. The companies are expected to close the deal during the first half of 2017, according to an article from Business Insider.

The companies create a type of retail environment many industries try to mimic with stores that act as shopping centers as well as entertainment destinations, according to an article in The Wall Street Journal.

“Both Cabela’s and Bass Pro Shops have earned cult followings for their oversize outposts filled with hunting, fishing and outdoors gear, as well as ornate taxidermy and fishing exhibits,” The Wall Street Journal article says.

The Cabela’s purchase is happening in part due to the “complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses,” according to Bass Pro Shops. Both companies serve outdoor enthusiasts and support wildlife conservation efforts.

Through merging the companies, three premiere sporting brands will be united, Bass Pro Shops says. Cabela’s is considered a leader in hunting retail; Bass Pro Shops is a leader in fishing retail; and White River Marine Group, a worldwide leader in boating retail, is also a part of Bass Pro Shops.

“Today’s announcement marks an exceptional opportunity to bring together three special companies with an abiding love for the outdoors and a passion for serving sportsmen and sportswomen,” Johnny Morris, founder and CEO of Bass Pro Shops, says. “We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers.”

The merger of the companies will create a national chain with more than 180 locations and approximately 40,000 workers. Additionally, it will give Bass Pro Shops control of more than 20 percent of the $50 billion U.S. hunting, camping and fishing market, analyst Jim Duffy shares in The Wall Street Journal article.

Cabela’s branded stores will remain branded as they are, according to Bass Pro Shops. Bass Pro’s Johnny Morris will continue as CEO and be majority shareholder of the new entity. The merger will remain a private company.

Cabela’s was founded in 1961 and has 85 specialty retail stores, primarily in the western U.S. and Canada.
Johnny Morris founded Bass Pro Shops in 1972. The business currently operates 99 stores and Tracker Marine Centers located primarily in the eastern part of the U.S. and Canada.

About Renee Changnon

Renee Changnon is the retail outreach coordinator for NRHA. She meets with retailers in their stores and at industry events and introduces them to the services NRHA provides. Renee previously worked as a member of the NRHA communications team. She earned a degree in visual journalism from Illinois State University, where she served as the features editor for the school newspaper. After college, she implemented marketing and promotions initiatives at Jimmy John’s franchise locations across the country. She enjoys exploring books with her book club, Netflix marathons and hosting goat yoga at her apartment complex. Renee Changnon 317-275-9442 rchangnon@nrha.org

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