News

Actions

Bass Pro Shops to buy Cabela's

Bass Pro Shops to buy Cabela's
Posted at 7:02 AM, Oct 03, 2016
and last updated 2016-10-03 15:30:57-04

SPRINGFIELD, Mo. -- Bass Pro Shops has agreed to buy Cabela's.

Bass Pro Shops will acquire Cabela’s for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion., according to a news release from the two companies.

Cabela's, based in Nebraska, has three locations in Colorado -- Lone Tree, Thornton and Grand Junction.

Bass Pro Shops has two locations in Colorado -- Denver and Colorado Springs.

"A driving force behind this agreement is the highly complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses," officials said. "The combination brings together three of the nation's premier sporting brands: Cabela’s, a leader in hunting; Bass Pro Shops, a leader in fishing; and White River Marine Group, a worldwide leader in boating, which is part of Bass Pro Shops."

Bass Pro Shops was started in 1971 when Johnny Morris, frustrated by the lack of tackle in local stores, rented a U-Haul trailer and took off across the country filling it with the newest premium fishing tackle he could find, according Bass Pro Shops' website. When he returned home to Springfield, Missouri, Johnny set up shop in his dad's liquor store creating Bass Pro Shops.

---------

Sign up for Denver7 email alerts to stay informed about breaking news and daily headlines.

Or, keep up-to-date by following Denver7 on Facebook, Instagram and Twitter.