Bass Pro Shops and Cabela’s, two outdoor retail store companies, have announced a merger, according to a news release today.
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 the announcement.
The news release stated that Bass Pro Shops intends to grow the Cabela’s brand.
The two companies have similar backgrounds, starting with one store founded by families. Cabela’s, founded in Sidney, Neb., has 85 retail stores, including a store in the Village West area of Kansas City, Kan. Bass Pro Shops, which started in Springfield, Mo., has 99 retail stores.
Besides the merger, Bass Pro Shops has announced a multi-year partnership agreement with Capital One, National Association, in which Capital One will service the Cabela’s CLUB credit card, the news release stated. The points from both stores’ credit cards will be unaffected by the transaction and customers may continue to use them as previously, according to the announcement.
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