Bass Pro Shops has reached a deal to acquire outdoors retail competitor Cabela's and take the company private in a deal valued at $5.5 billion, the companies said Monday.
It was not immediately clear whether the acquisition would result in any store closures, but the companies said in a statement that Springfield, Mo.-based Bass Pro Shops would "celebrate and grow" the Cabela's brand.
The deal comes about 10 months after Sidney, Neb.-based Cabela's effectively put itself up for sale at the urging of hedge fund Elliott Management, which had declared the hunting-and-fishing retailer undervalued and called for the company to consider a sale or reorganization.
Does this impact you or no? Having a Cabelas close by is nice but I have spent more of my $$ at Gander Mountain and Field and Stream
It was not immediately clear whether the acquisition would result in any store closures, but the companies said in a statement that Springfield, Mo.-based Bass Pro Shops would "celebrate and grow" the Cabela's brand.
The deal comes about 10 months after Sidney, Neb.-based Cabela's effectively put itself up for sale at the urging of hedge fund Elliott Management, which had declared the hunting-and-fishing retailer undervalued and called for the company to consider a sale or reorganization.
Does this impact you or no? Having a Cabelas close by is nice but I have spent more of my $$ at Gander Mountain and Field and Stream