Great American Outdoors retail boost with acquisition
The private company behind Bass Pro Shops, Cabela’s and White River Marine Group has grown its retail portfolio further with the purchase of Sportsman’s Warehouse.
It means the Great American Outdoors Group will add the retail giant’s 112 stores to its 169 outlets under the Bass Pro and Cabela’s brands.
With about 44 million shares and an offer of $18 per share in cash, the deal values Sportsman’s Warehouse at about $800 million.
It is understood the driving force behind the partnership is the two companies’ similar histories, complementary business philosophies and geographic footprints plus their passion for fishing, camping, hunting, boating and other outdoor activities.
Sportsman’s Warehouse CEO Jon Barker said: “This merger brings together the greatest brands in the outdoor industry. Tthe combined entities provide our passionate associates with greater opportunities to serve the outdoor enthusiast. I couldn’t be more proud of the nearly 8,000 Sportsman’s Warehouse associates and their success in building our brand over the last 33 years.”
The acquisition will allow Sportman’s Wearhouse to widen its product offerings online and in-store with an expanded selection of tackle including Bass Pro Shops and other premier brands.
Bass Pro Shops founder and Great American Outdoors Group leader, Johnny Morris, noted: “As outdoor sports specialists with an unwavering dedication to people who fish, hunt and enjoy the outdoors, we greatly admire the passionate team at Sportsman’s Warehouse for their commitment to their customers and the sports we all love. By combining our best practices, our aim is to give our customers a best-of-the-best experience while further uniting them to support conservation.”
The entities will continue to operate independently until the transaction closes, likely in the second half of 2021.