Sunday, December 22, 2024

Bass Pro Shops to Bid for Cabela’s – FTR Staff

Date:

Reuters news agency is reporting that Bass Pro Shops has partnered with a private equity arm of Goldman Sachs Group (a multinational investment banking firm) to make an offer for Cabela’s. The unidentified sources are “people familiar with the matter.”

According to Reuters, “The move gives Bass Pro the equity financing necessary to pursue Cabela’s and makes such a deal more likely, given the potential cost savings and synergies a combination of the two U.S. hunting and fishing retailers would bring.”

Bass Pro and Cabela’s are generally regarded as the number one and number two big box outdoor retailers in North America. Together they would form a giant worth upwards of $7 billion.

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