Bass Pro Shops to buy Cabela's in $5.5 billion deal

[jonvi]

Bass Pro Said to Win Auction for Outdoor-Gear Rival Cabela’s


Bass Pro is close to acquiring Cabela’s Inc. in a deal that would unite two of America’s largest outdoor-sports equipment retailers, according to people familiar with the matter.

Closely held Bass Pro beat out competition from private equity bidder Sycamore Partners, the people said. While the price and terms are still being completed and an agreement isn’t certain, the deal could be announced as soon as Monday, said the people, who asked not to be identified because the matter is private.

Cabela’s, which has been under pressure from activist investor Elliott Associates to pursue a sale, began a strategic review of its businesses in December. Revenue and profit growth had sputtered as a surge in gun sales abated, and the company said in October of last year that “significant weakness” in its fall apparel and footwear contributed to a disappointing third quarter. Less than a week later, Elliott disclosed an 11 percent stake and said it would push for a shakeup.

Shares in the Sidney, Nebraska-based company have surged 18 percent this year after dropping 30 percent in the two years through 2015. The stock climbed 2.6 percent to $54.93 in New York on Friday.

Neither Bass Pro nor Cabela’s representatives were available for comment outside of regular business hours.

 

[jonvi]

To me Cabela's and Bass Pro stores are almost the same. I don't do a lot of buying from either because I find them a bit pricey. But do pick up some things on occasion. Most times the reason I'm in either store is because the girls are doing a marathon shopping push in a mall and I hang out at the fish tank.

 

[MAIZEandBLUE09]

I was just coming here to post this. Kinda shocked by this. I don't like that competition is going away, I hope they still stay two distinct brands. There's some Cabelas specific fishing gear I like as there is also some Bass pro stuff I like. It will be interesting to go into a Cabelas and see Bass Pro stuff - if that's the direction they take. Could be good, or could just decrease competition.

 

[MAIZEandBLUE09]

To me Cabela's and Bass Pro stores are almost the same. I don't do a lot of buying from either because I find them a bit pricey. But do pick up some things on occasion. Most times the reason I'm in either store is because the girls are doing a marathon shopping push in a mall and I hang out at the fish tank.

I typically go to Cabelas once a year in the spring to load up on fishing stuff. I also keep a look out on free shipping deals from either and pick something up whenever they happen.

 

[jonvi]

I was just coming here to post this. Kinda shocked by this. I don't like that competition is going away, I hope they still stay two distinct brands. There's some Cabelas specific fishing gear I like as there is also some Bass pro stuff I like. It will be interesting to go into a Cabelas and see Bass Pro stuff - if that's the direction they take. Could be good, or could just decrease competition.

Yeah....this is going to be reviewed for antitrust issues. Hunting and fishing sales in NY State alone is in the $ Millions.

 

[MAIZEandBLUE09]

Yeah....this is going to be reviewed for antitrust issues. Hunting and fishing sales in NY State alone is in the $ Millions.

Yeah, what other major outdoor retailers are there? Gander Mountain is the only one I can think of and that's more like Dick's Sports than it is like one of the large Cabela's. I always likes that there were two major competitors because it kept things balanced. Who are they really up against at this point?

 

[broncosmitty]

Yeah, what other major outdoor retailers are there? Gander Mountain is the only one I can think of and that's more like Dick's Sports than it is like one of the large Cabela's. I always likes that there were two major competitors because it kept things balanced. Who are they really up against at this point?

Field and Stream is making a push into retail outlets lately.

Saw HUGE new ones recently. Haven't been in one.

 

[romeo212000]

This sucks. For me, Cabelas > Bass pro

 

[jonvi]

Yeah, what other major outdoor retailers are there? Gander Mountain is the only one I can think of and that's more like Dick's Sports than it is like one of the large Cabela's. I always likes that there were two major competitors because it kept things balanced. Who are they really up against at this point?

And both of them offer less selection of hunting/fishing and more things for sports. The real appeal to me is the size of the Cabela's and Bass Pro's stores. I can kill a couple of hours in one of those places w/o a problem. Smitty's bringing up Field and Stream getting into the game should be interesting.

Field and Stream is making a push into retail outlets lately.

Saw HUGE new ones recently. Haven't been in one.

I didn't know F&S was opening stores. I haven't seen any yet. You owe it to the hoop to do a recon and let us know the deal.

 

[jonvi]

This sucks. For me, Cabelas > Bass pro

I used to order stuff through their catalog but haven't in years ... I guess because I can go to a store now.

 

[MAIZEandBLUE09]

And both of them offer less selection of hunting/fishing and more things for sports. The real appeal to me is the size of the Cabela's and Bass Pro's stores. I can kill a couple of hours in one of those places w/o a problem. Smitty's bringing up Field and Stream getting into the game should be interesting.



I didn't know F&S was opening stores. I haven't seen any yet. You owe it to the hoop to do a recon and let us know the deal.

It is about the size. Dick's has 5 or 6 isles of fishing gear and a lot of other sports. Cabela's has a fishing section the size of half the Dick's store. I think what's really going to suck is if the brand specific stuff starts all looking the same -- IE, the Cabela's rod is the same thing as the Bass Pro shops rod with a different brand name on it.

 

[jonvi]

It is about the size. Dick's has 5 or 6 isles of fishing gear and a lot of other sports. Cabela's has a fishing section the size of half the Dick's store. I think what's really going to suck is if the brand specific stuff starts all looking the same -- IE, the Cabela's rod is the same thing as the Bass Pro shops rod with a different brand name on it.

And you know that's coming. They may try to appear like they are going to maintain those selections, but we all know once accountants start pointing out the difference in cost for similar products, board members are going to make the move that works best financially.

Yeah.....the more I think about this purchase, the less I like it.

 

[MAIZEandBLUE09]

And you know that's coming. They may try to appear like they are going to maintain those selections, but we all know once accountants start pointing out the difference in cost for similar products, board members are going to make the move that works best financially.

Yeah.....the more I think about this purchase, the less I like it.

The thing too is that the Bass Pro shops fishing stuff was always just a bit cheaper than the Cabelas. One of my favorite lures is a stick crankbait from Bass Pro that costs something like $2.99.

 

[broncosmitty]

And both of them offer less selection of hunting/fishing and more things for sports. The real appeal to me is the size of the Cabela's and Bass Pro's stores. I can kill a couple of hours in one of those places w/o a problem. Smitty's bringing up Field and Stream getting into the game should be interesting.



I didn't know F&S was opening stores. I haven't seen any yet. You owe it to the hoop to do a recon and let us know the deal.

I'll try and stop in this week. Giant one in Kalamazoo right by the hotel I usually stay at. Maybe it's been there a year? Idk. Seems like it's along the lines of a BPS or Cabellas.

Field & Stream Stores | Locations

 

[TemptressToo]

Bass Pro is still privately held too...imagine that IPO!

 

[NEhomer]

Cabela's became a damned clothing store some time ago. 88 different pairs of boots? Really?

Add that the closest Cabela's to me in East Hartford CT can no longer sell me a box of shotshells because I'm from MA and this one ain't gonna affect me too much.

 

[Loneranger]

This sucks. For me, Cabelas > Bass pro

no question about it. When it comes to hunting clothes , boots or anything hunting Cabelas is the gold standard. Bass Pro does a lot of things right but no one competes with Cabelas when it comes to hunting. This is really sad , gonna miss all those great hunting clothes etc.