Fishing tackle retail giant is exploring a move to buy one of its largest competitors.
Photo Courtesy of Fishing Tackle RetailerBass Pro Shops Considering Purchase of Cabela's
Fishing tackle retail giant is exploring a move to buy one of its largest competitors.
According to Fishing Tackle Retailer, Reuters is reporting that Bass Pro Shops is considering the purchase of Cabela’s.
People “familiar with the matter” are reporting that the retail giant is currently working with an investment bank on a potential offer. This comes after reports of Cabela’s exploring its possible options. Both parties have declined to comment on the matter, but a 13-percent hike in Cabela’s stocks has occured since the news broke.
Forbes estimates Bass Pro Shops founder Johnny Morris to be worth $4.1 billion, with Bass Pro Shops earning over $4 billion in revenue last year and employing approximately 20,000 individuals in 94 retail stores. Cabela’s reported $1.2 billion in revenue last year and operates 77 retail stores.
We’ll update this story with additional details as they’re made known. If a deal is made, it would certainly be an enormous shake-up in the retail fishing tackle industry.
People “familiar with the matter” are reporting that the retail giant is currently working with an investment bank on a potential offer. This comes after reports of Cabela’s exploring its possible options. Both parties have declined to comment on the matter, but a 13-percent hike in Cabela’s stocks has occured since the news broke.
Forbes estimates Bass Pro Shops founder Johnny Morris to be worth $4.1 billion, with Bass Pro Shops earning over $4 billion in revenue last year and employing approximately 20,000 individuals in 94 retail stores. Cabela’s reported $1.2 billion in revenue last year and operates 77 retail stores.
We’ll update this story with additional details as they’re made known. If a deal is made, it would certainly be an enormous shake-up in the retail fishing tackle industry.
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