Bass Pro Shops has reached an agreement to acquire Cabela’s Inc. for about $4.5 billion in cash, combining two of the biggest sellers of outdoor sports equipment and apparel and two leaders in the corporate gift card market. According to a Bass Pro Shops statement, “There are still many decisions to be made as we prepare to bring our companies together. We are committed to sharing additional information as it becomes available.” Privately owned Bass Pro Shops also says it will begin a multiyear partnership with a unit of Capital One Financial Corp. for a Cabela’s co-branded credit card. The companies note that their customer loyalty programs will remain unchanged. The deal, which is expected to close in the first half of next year, includes Cabela’s 85 specialty retail stores, primarily in the western U.S. and Canada, and Bass Pro Shops’ 99 stores and Tracker Marine Centers, located primarily in the eastern part of the U.S. and Canada.
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