Bass Pro Shops' flagship store in Springfield, MO.
Bass Pro Shops' flagship store in Springfield, MO. Wikimedia Commons
Bass Pro Shops' flagship store in Springfield, MO.

Bass Pro Shops Purchases Cabelas

Bass Pro Shops’ flagship store in Springfield, MO.

Today, Bass Pro Shops struck a $5.5 billion deal to acquire Cabela’s, bringing together two of the most well-known hunting and fishing retailers. In light of the news, Cabela’s issued a statement, saying that the Springfield, Mo.,-based Bass Pro Shops will “celebrate and grow” the Cabela’s brand.

USA Today reports that the Sidney, Neb.,-based Cabela’s put itself on the market 10 months ago, at the urging of hedge fund Elliott Management, which considered the company undervalued and pushed it to consider sale or reorganization. Bass Pro stated that Cabela’s will maintain operations in Sidney and Lincoln, Neb.

Bass Pro Shops CEO Johnny Morris said, “The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system. We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers.”

Cabela’s states that the privately held Bass Pro Shops will pay $65.50 per share in cash for Cabela’s shareholders. The sale is expected to close sometime next year.

You can read a detailed press release on the deal here, as well as a brief history of Cabela’s, written by David Cabela, here.

Full disclosure: Bass Pro Shops advertises with this magazine.