Bass Pro reportedly takes steps to buy Cabela’s
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Bass Pro Shop has teamed up with Goldman Sachs in a bid to buy Cabela’s, Reuters reported this week citing anonymous sources.
Bass Pro is a privately held company which does not have to disclose its earnings data, but it’s clear that teaming up with Goldman Sachs would give it the equity to pursue Cabela’s, which is publicly traded.
The two chains cater to hunters and anglers, and their significant similarities could lead to huge cost savings by teaming up.
In December, Cabela’s announced it would explore strategic alternatives to “further enhance shareholder value,” which could include a sale. Shortly after that announcement, Reuters reported that Bass Pro was interested in making a deal.
Cabela’s total revenue in the fourth quarter of fiscal year 2015 was up 10.5 percent from the previous year to $1.4 billion, according to a press release on its investor relations site issued in February.
