After several snags along the way, outdoor retailer Bass Pro Shops has officially purchased Cabela’s.
Outdoor giants Bass Pro Shops and Cabela’s have officially joined forces “with a vision to become North America’s premier outdoor and conservation company,” the company announced. The company was sold for about $4 billion.
“As we move forward, we are committed to retaining everything customers love about both Bass Pro Shops and Cabela’s by creating a ‘best-of-the-best’ experience that includes the superior products, outstanding customer service and exceptional value our customers have come to expect,” said Bass Pro Shops founder and CEO Johnny Morris.
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Bass Pro Shops had to smooth out the sale of Cabela’s banking assets before moving forward. Cabela’s Inc. has entered into agreements with Synovus Financial Corp. and Capital One Financial Corporation for the sale of Cabela’s banking assets and liabilities. Synovus will acquire certain assets and deposits totaling $1.2 billion.
Because Cabela’s is a publicly traded company and there were a number of federal regulations that need to be followed to complete the transaction.
Customers can exchange a Bass Pro Shops gift card to a Cabela’s gift card for an equal amount and vice versa. Gift cards are exchanged at the customer service counter in either store or by contacting our online customer service centers, the company announced.
Both Bass Pro and Cabela’s have a big presence in this region. Cabela’s has a 70,000-square-foot store at 5500 Cornerstone North Blvd., in the Cornerstone at Centerville development off exit 7 of Interstate 675 near Wilmington Pike, and a location in West Chester Twp. The stores employ about 130 employees.
Bass Pro Shops has a location in Forest Fair at 300 Cincinnati Mills Drive and has had plans to build one in West Chester Twp.
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