It was big news when outdoor giant Bass Pro Shops bought out Cabela’s and added them to their parent company the Great American Outdoors Group. Now that group just add another large outdoor company to its portfolio.
According to The Global News Wire, the Sportsman’s Warehouse agreed to be bought out by the Great American Outdoor Group. As part of the agreement, Sportsman’s Warehouse will be acquired for $18.00 per share in cash, in order for GAOG can remain privately owned.
“We are excited to be joining the Great American Outdoors Group. This merger brings together the greatest brands in the outdoor industry. As we look to the future, the 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. We look forward to a smooth transition and building our partnership,” said Sportsman’s Warehouse CEO Jon Barker.
“Today is a happy day for our companies, outdoor enthusiasts and for the cause of conservation,” said Bass Pro Shops Founder and Great American Outdoors Group Leader, Johnny Morris. “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,” added Morris.
The merger agreement was unanimously approved by Sportsman’s Warehouse’s Board of Directors. The deal is expected to be completed during the second half of 2021.
The deal still needs to be approved by Sportsman’s Warehouse’s shareholders, and like all mergers is subject to regulatory approvals and other customary closing conditions. Both companies will continue to operate independently until the deal is complete.
I am sure many hunters and anglers will look at this merger with skepticism. Many complaints that were voiced with the Cabela’s/ Bass Pro merger are sure to be echoed here with the big one being the removal of competition. When businesses compete customers win.