Rumors have been flying for months now, but the truth is finally out – Bass Pro Shops will acquire Cabela’s in $5.5 billion deal. It’s a move that will help the privately held company nearly double the number of stores across the country.
It’s no secret that Cabela’s has been struggling with declining sales in recent years. And social media has been flooded with rumors in the last year that Bass Pro Shops could be the key player in a change for the future.
John Paul Morris, son of Bass Pro Shops founder and CEO, Johnny Morris, said, “I’m so incredibly proud of my dad and the entire team at Bass Pro Shops, Tracker Marine, and Cabela’s! These two great American companies coming together has been a long time in the making and will be a great thing for conservation, customers across the country, and team members from both organizations. We are super excited about the opportunity to grow both brands side by side and celebrate our longstanding history in the outdoors when the deal closes!”