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National  + Missouri  | 

Bass Pro Shops Nabs Cabela’s in $5.5B Deal

Outdoor chain Bass Pro Shops will be acquiring rival Cabela’s in a deal worth $5.5 billion. Upon the acquisition’s closing, Bass Pro Shops will double its store count in North America. The deal will be financed through preferred equity financing commitments of $2.4 billion from Goldman Sachs and Pamplona Capital Management. Closing is slated for the first half of next year.

Cabela’s has been struggling with declining sales, reporting same-store sales growth in only one quarter during the past three years. The retailer has been under pressure from Elliott Associates, an activist hedge fund that owns an 11.1% stake in the company, to find strategic alternatives.

Upon closing, Bass Pro Shops will also commence a partnership agreement with Capital One, which will take on servicing Cabela’s CLUB, Cabela’s co-branded credit card.

Read More at Bass Pro Shops

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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