It’s official: Bass Pro Shops has acquired its chief competitor Cabela’s in a deal worth around $4 billion.
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“We are excited to unite these iconic American brands to better serve our loyal customers and fellow outdoor enthusiasts,” Bass Pro Shops founder and CEO Johnny Morris said in a statement. “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. We’re also deeply motivated by the potential to significantly advance key conservation initiatives.”
If you’re wondering how this is all going to play out, an FAQ posted to both company websites says the two brands will continue to operate independently. Customers will be able to exchange a Bass Pro Shops gift card to a Cabela’s gift card for an equal amount and vice versa.
Meanwhile, Cabela’s Club Visa cardholders and Bass Pro Shops MasterCard cardholders will be able to earn points at both stores. Additionally, Cabela’s purchases can be returned at Bass Pro Shops customer service counters and vice versa.
Store-specific brands and products will continue to be offered at both locations.
While there’s no mention of it in the press release, it’s been said that Cabela’s will likely leave its longtime headquarters in Sidney, Neb. and relocate to Springfield, Mo., where Bass Pro Shops is based, though nothing is set in stone.
According to the Courier-Journal, there are currently 100 Bass Pro locations and 85 Cabela’s stores across North America. The future of each location hasn’t been decided. However, Jeff Jones, assistant professor of finance at Missouri State University in Springfield, Mo., told the Courier that “it would be reasonable to expect that in some markets where they have both stores some would close.”
It’s been a near two-year journey to get to this point, with Cabela’s first announcing it was thinking about a sale in November of 2015 after a 21 percent decline in stock price, Fortune says. In October 2016, the planned acquisition of Cabela’s by Bass Pro was revealed. Now, it’s finally gone through.
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Watch the video above hyping the combination of Bass Pro Shops and Cabela’s.