Bass Pro Shops completes acquisition of Cabela’s for $5bn
American outdoor retailer Bass Pro Shops has closed the $5bn acquisition of camping and related outdoor merchandise omnichannel retailer Cabela’s.
The combination is expected to form a company that will offer an expanded geographic footprint, which will create improved benefits for outdoor enthusiasts.
The transaction combines Bass Pro Shops and its affiliate White River Marine Group, as well as Cabela’s, leveraging their expertise in fishing, hunting and boating, respectively.
Bass Pro Shops founder and CEO Johnny Morris said: “We look forward to growing and celebrating conservation as we work to provide our combined customer base with enhanced product offerings, unique outdoor experiences and unrivalled services.”
The companies initially signed a definitive merger agreement last October, while an amended agreement was reached in April this year.
At the time of signing the revised agreement, Morris said: “We remain excited about the exceptional opportunity we have to continue to serve sportsmen and sportswomen by bringing together Cabela’s, Bass Pro Shops and White River Marine Group.
“Today’s announcement is an important step forward and we are excited about the opportunity to continue celebrating the great Cabela’s brand with ours as one unified outdoor family for our customers and for conservation.”
Offering outdoor gear and apparel, Bass Pro Shops was founded in 1972 and operates more than 100 retail and marine centres.