Bass Pro Shops is expected to acquire Cabela's in an estimated $5.5 billion deal, according to a press release issued Monday morning.
The two outdoors companies have entered into a definitive agreement for the deal.
"Today's announcement marks an exceptional opportunity to bring together three special companies with an abiding love for the outdoors and a passion for serving sportsmen and sportswomen," said Johnny Morris, founder and CEO of Bass Pro Shops, in a statement. "The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system. We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers. We look forward to continuing to celebrate and grow the Cabela’s brand alongside Bass Pro Shops and White River as one unified outdoor family.”
After the anticipated merge, the company notes that the customer loyalty programs will remain unaltered.