UNDATED - Bass Pro Shops announced Monday morning it has agreed to purchase its outdoor equipment competitor, Cabela's.
According to a news release from Bass Pro, the deal is worth $5.5 billion. The release stated Bass Pro will acquire Cabela's for $65.50 per share in cash.
There is only one Cabela's in Louisiana. It is located in Gonzales. The two Bass Pro locations are in Denham Springs and Bossier City.
"The essence of both Bass Pro Shops and Cabela's is a deep passion to serve outdoor enthusiasts and support conservation," the release stated. "The combination brings together three of the nation's premier sporting brands: Cabela's, a leader in hunting; Bass Pro Shops, a leader in fishing; and White River Marine Group, a worldwide leader in boating, which is part of Bass Pro Shops."
Cabela's was founded in 1961 and now has 85 stores in the US and Canada. Bass Pro Shops started up in 1972 and now has 99 stores.