Two of the biggest outdoor stores in America will combine in a multi-billion dollar merger as they attempt to fortify their positions as the go-to shop for outdoor activities.
Bass Pro Shops and Cabela’s Incorporated announced a planned merger Monday with Bass Pro Shops buying Cabela’s for approximately $69.50 per share, all in cash. The total sale will reportedly be for approximately $5 billion merger.
According to a company statement from the two businesses, one of the biggest reasons behind the merger was to merger Cabela’s hunting business with Bass Pro Shops’ fishing business along with White River Marine Group, which is already owned by Bass Pro Shops.
Cabela’s was originally found in 1961 and has 85 retail stores, primarily in the western United States and Canada. Bass Pro Shops has 99 stores across America including in Round Rock and other areas in Texas.
If approved by regulators, the deal is expected to close in the first half of 2017.