The deal that the entire outdoor world has been talking about for more than a year has finally been completed. Bass Pro Shops announced that they have closed a $4 billion deal to acquire Cabela’s, one of their largest rivals.
“We are excited to unite these iconic American brands to better serve our loyal customers and fellow outdoor enthusiasts,” said Bass Pro Shops founder and CEO Johnny Morris. “As we move forward, we are committed to retaining everything customers love about both Bass Pro Shops and Cabela’s by creating a ‘best of the best’ experience that includes superior products, outstanding customer service and exceptional value our customers have come to expect. We’re also deeply motivated by the potential to significantly advance key conservation initiatives.”
The Federal Reserve approved the sale of Cabela’s credit card business to Synovus on September 7, which allowed Bass Pro Shops to pay $61.50 per share to buy Cabela’s. Synovus will act as the middleman and keep $1.2 billion in deposits before reselling the credit card business to Capital One.
The following are some key facts worth noting. This information and much more can be found at basspro.com/together.
- Both names will remain the same.
- Cabela’s purchases can be returned to Bass Pro Shops and vice versa.
- Customers can exchange a Bass Pro Shops gift card to a Cabela’s gift card for an equal amount and vice versa.
