Cabela’s owner acquires Sportsman’s Warehouse
The Great American Outdoors Group, which owns Cabela’s and Bass Pro Shops, has merged with Sportsman’s Warehouse, the companies announced last week.
In a press release, the companies said the driving force behind the partnership is the companies’ similar histories and highly complementary business philosophies and geographic footprints.
“Both entities share a passion with their customers for fishing, camping, hunting, boating and other outdoor activities,” the release said. “Likewise, both are highly acclaimed retailers with well-deserved reputations for a broad offering of outstanding brand name and proprietary products, superior customer service, deeply knowledgeable team members and an unwavering passion for conservation. Uniting together represents
an unprecedented ‘win-win’ opportunity for outdoor enthusiasts.”
Cabela’s has a popular location in Tilden Township that is the company’s largest, while Bass Pro Shop
has a store in Harrisburg and Sportsman’s Warehouse opened in Camp Hill, Cumberland County in 2019.
The release said Springfield, Mo.-based Great
American Outdoors Group will remain a private company. Midvale, Utah-based Sportsman’s Warehouse will be acquired for $18.00 per share in cash.
“Today is a happy day for our companies, outdoor enthusiasts and for the cause of conservation,” said Bass Pro Shops Founder and Great American Outdoors Group Leader, Johnny Morris, in a statement. “As outdoor sports specialists with unwavering dedication to people who fish, hunt and enjoy the outdoors, we greatly admire the passionate team at Sportsman’s Warehouse for their commitment to their customers and the sports we all love. By combining our best practices, our aim is to give our customers a best-of-the-best experience while further uniting them to support conservation.”
Cabela’s was acquired by Bass Pro in 2017 for $4 billion. Also under the Great American umbrella are White River Marine Group and a collection of naturebased resorts.
“This merger brings together the greatest brands in the outdoor industry,” said Sportsman’s Warehouse CEO Jon Barker in a statement. “As we look to the future, the combined entities provide our passionate associates with greater opportunities to serve the outdoor enthusiast. I couldn’t be more proud of the nearly 8,000 Sportsman’s Warehouse associates and their success in building our brand over the last 33 years. We look forward to a smooth transition and building our partnership,”
The merger agreement was unanimously approved by Sportsman’s Warehouse’s Board of Directors. The transaction, which is expected to close in the second half of 2021, will be completed through a cash merger and is subject to approval by Sportsman’s Warehouse’s shareholders, as well as regulatory approvals and other customary closing conditions.
The transaction is not subject to any financing condition. The entities will continue to operate independently until the transaction closes.