Thursday, October 6, 2016
Monday, October 3, 2016
Holy Crap! Bass Pro Shops Just Acquired Cabelas!
It was not immediately clear whether the acquisition would result in any store closures, but the companies said in a statement that Springfield, Mo.-based Bass Pro Shops would "celebrate and grow" the Cabela's brand.
The deal comes about 10 months after Sidney, Neb.-based Cabela's effectively put itself up for sale at the urging of hedge fund Elliott Management, which had declared the hunting-and-fishing retailer undervalued and called for the company to consider a sale or reorganization.
Privately held Bass Pro Shops will pay $65.50 per share in cash for Cabela's, representing a premium of 19.2% over Friday's closing price.
Cabela's shares rose 14.7% to $62.99 in pre-market trading Monday.
Long known for large-format destination stores, Cabela's has lost ground to smaller, nimbler competitors and online retailers. Sales at stores open at least a year fell 1.3% in the first half of 2016, compared to a year earlier, according to a securities filing.
The number of purchases at Cabela's stores fell 8.1% during that period, reflecting a drop-off in foot traffic as customers bought less clothing and footwear from the retailer, although hunting sales increased and average revenue per transaction rose 8.2%.
The deal marks a dramatic expansion of the outdoor retailing empire controlled by Bass Pro Shops CEO Johnny Morris, who founded the company in 1972. The billionaire will lead the newly combined entity as CEO and will retain majority ownership.
Bass Pro Shops has about 99 stores and 20,000 employees. Cabela's has about 85 stores and had about 19,700 employees at the end of 2015, according to securities filing.
Representatives for Cabela's and Bass Pro Shops did not respond to requests seeking comment, questions about potential store closures or interviews with executives.
"The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system," Morris said in a statement. "We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers."
Cabela's CEO Tommy Millner said the company's board had unanimously backed the sale after "a thorough strategic review."
Bass Pro Shops said it plans to maintain Cabela's operations in Sidney and Lincoln, Neb. "and hopes to continue the very favorable connections to those communities and the Cabela’s team members residing there."
The companies said they expect the deal to be approved in the first half of 2017.
Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.
Monday, September 19, 2016
Special Delivery! September 2016 Mystery Tackle Box Unboxing
I received my mystery tackle box today and I couldn't be more happy. Why? Because the fall bite is on and crank baits are the ticket this time of year. Apparently the team at Mystery Tackle Box considered this and sent me two this month, one shallow diving crank bait and one deep diving crank bait. Couple that with last months Lucky Craft jerk bait, my spring and fall crank bait box will be pretty set. So, without anymore rambling from me, below is the list of items that came in my September 2016 Mystery Tackle Box.
Color: Sexy (10 colors to choose from)
Price: $11.99
Baker Lures: RGD0 Series SuspendingCrankbait
Color: Gold Bass (28 colors to choose from)
Price: $5.49
B8Lab: 5 inch Ultimate Strike Minnow
Color: Pumpkin Red Flake (10 colors to choose from)
Price: $6.50 per 5pack
Big Bite Baits: 4 Inch Salt Tube
Color: Salt & Pepper Smoke (11 Colors to choose from)
Price: $2.20
Daiichi: D239-4/0-2 Fat Gap Offset Worm Hook
Price: $3.50
Friday, September 16, 2016
Michigan Weekly Fishing Report: September 15, 2016
Monday, September 12, 2016
NDYakanglers Brilliant Kayak Angling Setup
So I've seen this video before and shared it on Facebook. However hadn't shared it here on the blog. Since I'm coming up with ideas for my rigging on my yak I figured it's time to share it with you all. NDYakangler has by far the most creative way of rigging his kayak. Take your time and check out this video and pay special attention to how he rigged his gopro cameras.
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