Bass Pro Shops Buys Cabela's

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It's interesting that some of the stories list the price as $4.5 billion, some as $5.5 billion. Given 68,470,000 shares outstanding, the $4.5 billion number is correct. Not a great premium to price before announcement.

Bass Pro has about $4.5B in annual sales, Cabela's about $4B.

The owner of Bass Pro has been very successful despite being a bit crazy. Johnny Morris is an "act now, think later" kind of guy. Story I heard once was that when he was building his first (only?) salt water store (in the Florida Keys), he told an exec to fly to his home in Florida. He showed him a boat that he said was owned by Ernest Hemingway (it wasn't, it was the sister ship to Hemingway's boat which he supposedly went out on and then decided to buy one). Anyway, he told the exec, "I want to put this in the store". The exec said "do you realize the amount of space it will take up that could be filled with product to sell?" Johnny said to do it. The exec then said "we will have to rip down an exterior wall to do this" to which Johnny replied "then do that". And they did.

I'm saddened by this news. In the DFW, TX area, we have Gander Mountain, Bass Pro Shops and Cabela 's.

The first two are overpriced and seem to focus more on clothing (2/3 of the Gander store is clothes) and high-end toys (Bass Pro, with boats and ATVs taking up a decent portion)

Sure, both are fun to window shop, but I dont recall ever buying anything there.

At Cabela 's, I've bought coolers, fishing rods and lots of ammo (free ship to store, no minimum). I can only guess what dark path BassPro is going to take Cabela 's down.

What happens to Cabela's gift card?

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