April 19, 2016, Reuters, citing “people familiar with the matter,” noted that Cabela’s CAB peer, Bass Pro Shops, has partnered with Goldman Sachs Group’s private equity arm to prepare an offer to acquire the company. By teaming up with Goldman Sachs’ private equity arm, Bass Pro has the necessary financing to pursue an acquisition. However, other firms are interested in acquiring the retailer and the sale process is still in early stages.
On Jan. 2, 2016 CAB posted a profit of $78.8 million, or $1.14 a share, up from $78.6 million or $1.10 a share a year earlier. On an adjusted basis, earnings increased to $1.26 a share from $1.11. Revenue climbed 10.5% to $1.41 billion.
Back in March 31, 2016, Cabela’s Incorporated CAB announced that the variable funding facility with Bank of America, National Association (BANA) has been extended through March 2019. In addition, the commitment under the variable funding facility has been increased from $300 million to $500 million. The variable funding facility relates to an outstanding series of variable funding notes issued by Cabela’s Credit Card Master Note Trust.
Previously, on November 5, 2015, there were reports of Bass Pro Shops exploring a bid for CAB. At that time, CAB’s equity advanced 8.20% to $42.77.
CAB was founded in 1961 and is headquartered in Sidney, Nebraska. The retailer markets hunting, fishing, camping, and related outdoor merchandise. Cabela’s also issues the Cabela CLUB Visa credit card.
Bass Pro Shops (www.basspro.com) is a private retailer supplying outdoor gear with 94 retail stores in the U.S. and Canada. The home store is located in Springfield, Missouri and brings in over 4 million visitors yearly. Bass Pro Shops also owns Tracker Marine. Bass Pro Shops revenue in 2014 was 4.23 billion.
When the kids were growing up, we did our fair share of camping. Both Bass Pro and Cabela’s offer a magnificent amount of outdoor gear, something for everyone. Additionally, each retailer possesses museum quality displays of wildlife and firearms.
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If I can’t find what I need at Cabelas it doesn’t exist. I love that store.
there is a very large Bass Pro here in town, and it is pretty incredible, especially during winter time when they have holiday set-ups inside the store. It’s one of the few stores that reminds you of how things use to be with retail….in that just going to the store to walk around was an “experience.”