Is Cabela’s taking over Sportsman’s Warehouse in Tri-Cities?
Tri-Cities hunters, anglers and campers will be disappointed to learn that a proposed takeover of Sportsman’s Warehouse won’t be bringing a Cabela’s Sporting Goods to town.
Rumors have been circulating for a year about the possibility of the local store on Canal Drive becoming an outlet of the popular outdoor recreation retailer.
But the national merger of Cabela’s parent company, The Great American Outdoors Group, and Sportsman’s Warehouse has fizzled.
Business marketing news website SGB Media reports that the companies submitted a filing to the Federal Trade Commission just over 10 days ago to call off the sale.
“The decision to terminate the Merger Agreement follows feedback from the Federal Trade Commission (FTC) that led the parties to believe that they would not have obtained FTC clearance to consummate the Merger,” Sportsman’s Warehouse wrote in the filing, according to SGB.
Sporting Goods
The acquisition was agreed to in December 2020, with Great American Outdoors agreeing to pay $18 per share, or about $800 million to buy Sportsman’s Warehouse, which operates more than 100 mid-size sporting goods stores across the U.S.
Great American Outdoors Group will pay a $55 million termination fee to Sportman’s, according to the Branson Tri-Lake News.
The Great American Outdoors Group owns Cabela’s, Bass Pro, White River Marine Group and a collection of resorts.
They operate a combined 169 stores, that range from 100,000 to 200,000 square feet, according to SGB. Sportsman’s Warehouse locations typically measure 15,000 to 65,000 square feet.
It is unclear whether they intended to completely rebrand the Sportsman’s Warehouse stores.
The nearest Cabela’s is near Yakima in Union Gap.
Sportsman’s Warehouse is at 6603 W. Canal Dr. in Kennewick, and it also has an outlet in Walla Walla.
The Tri-City Herald has reached out to both companies for comment.
