Outdoor gear company Bass Pro Shops announced it will acquire Cabela’s for $5.5 billion.
“The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system,” said Jonny Morris, founder and CEO of Bass Pro Shops. “We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers.”
Both Bass Pro and Cabela’s have a big presence in this region. Cabela’s has a 70,000-square-foot store at 5500 Cornerstone North Blvd., in the Cornerstone at Centerville development off exit 7 of Interstate 675 near Wilmington Pike, and a location in West Chester Twp. The stores employ about 130 employees.
Bass Pro Shops has locations in Cincinnati at 300 Cincinnati Mills Drive.
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Cabela’s is headquartered in Nebraska, and it is not immediately apparent how jobs in the area will be impacted by the acquisition.
The agreement will give Cabela’s shareholders $65.50 per share in cash, according to a company statement.
As part of the deal, Capital One will also take over Cabela's credit card unit.
The Associated Press contributed to this report.
