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An iconic American outdoor company will acquire the respected marketer of hunting, fishing, camping, shooting sports and related outdoor merchandise.
Still struggling with a changing retail landscape, Cabela's agreed last October to be acquired by privately-held rival Bass Pro Shops for $65.50 per share, or about $5.5 billion, including debt.
As part of the merger with Bass Pro Shops, Cabela's sold the World's Foremost Bank aspect of their business, including over $1 billion in assets, to Synovus Financial Corp. and Capital One Financial Corp. [73] After the deal was completed, Synovus planned to sell the credit card assets and related liabilities to Capital One Bank (USA) NA. [74]
As part of Cabela's acquisition, the company agreed to sell the assets and liabilities of the World Foremost Bank to Synovus and Capital One, a transfer of over $1 billion in assets. [29] [30] In 2020, Great Outdoors Group, the parent company of Bass Pro Shops and Cabela's, attempted to acquire Sportsman's Warehouse. [31]
Gander Mountain sold its mail order business to Cabela's in 1996 with a no-compete clause. [17] In 2007 it won a lawsuit brought by Cabela's to resume online sales. On December 6, 2007, the company announced it purchased boating and watersports catalog company Overton's for $70 million (~$99.1 million in 2023) from a private-equity firm.
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The museum helps bring visitors to Bass Pro's store there, with which it shares a location. [9] [10] In September 2017, Bass Pro acquired Cabela’s, another retailer of outdoor merchandise, for $4 billion. [11] Morris and his family were presented with the Audubon Medal in February 2019, in recognition of their conservation efforts. [12]
Shares of Cabela's climbed nearly 10% today after the company increased guidance sharply on its earnings per share, which the company attributed to strong growth both in its retail and Internet sales.