If it seems like Cabela’s has been in the process of being sold for years, you’d be right. The rumors of Bass Pro Shops buying Cabela’s have been circulating for a while now. Today, the deal has been officially announced.
Bass Pro Shops will pay stockholders of Cabela’s $65.50 per share, which comes out to a total sale of approximately $5.5 billion.
A release by the two stores states, “Following the closing of the transaction, Bass Pro Shops intends to celebrate and grow the Cabela’s brand and will build on qualities that respective customers love most about Cabela’s and Bass Pro Shops. In addition, Bass Pro Shops recognizes the strength of Cabela’s CLUB Loyalty program and intends to honor Cabela’s customer rewards and sees potential over time to expand the program in the combined company.”
The press release further says that Cabela’s base of operations in Sidney and Lincoln will continue to “maintain.”
The deal will be fully finalized in early 2017.