Bass Pro Shops won’t complete its $5.5 billion acquisition of Cabela’s (CAB) until 2017, but one thing already seems clear: the hunting and firearms retailer isn’t going anywhere.
Sidney, Nebraska-based Cabela’s, known for its megastores featuring outdoor gear and wildlife displays, has been on the block for nearly a year, and Bass Pro Shops was long rumored to be interested in a combination with its main rival. While some details have yet to be revealed, Bass Pro Shops indicated that it will continue to coexist with Cabela’s under the same roof.
“We look forward to continuing to celebrate and grow the Cabela’s brand alongside Bass Pro Shops and White River [Marine Group] as one unified outdoor family,” Bass Pro Shops founder and CEO Johnny Morris said in a statement.
Also, in a series of questions and answers posted on its website Opens a New Window. , Bass Pro Shops said “it is business as usual at Bass Pro Shops and Cabela’s and there will be no immediate impact to our stores.”
“Following the closing of the transaction, we intend to celebrate and grow the Cabela’s brand, and will foster qualities that respective customers love most about both Bass Pro and Cabela’s,” the Springfield, Missouri-based company added.
That’s a lot of money, and a lot of happy country folks.