Are you a fan of Bass Pro Shops or Cabela's? One large-format outfitter chain announced today that they're buying the other.
According to a statement on Cabela's corporate website, they are being purchased by Bass Pro Shops in a deal valued at a whopping $5.5 billion. The stores, which are similar in their offerings for a wide range of outdoor activities and similar in their elaborate sportsman-themed interiors, have long been competitors. Cabela's has been suffering from a significant loss of revenue this year, though, according to USA Today.
Combined, the companies have 184 stores. It is unclear if any stores will be closing as a result of the purchase or how much Cabela's will be retaining its name. Bass Pro Shops says it intends to retain Cabela's CLUB Loyalty rewards program.
Cabela's opened its first store in Kearney, Nebraska in 1987. Bass Pro Shops started in Springfield, Missouri in 1972.
What do you think about this?