NEW YORK — Goldman Sachs and Bass Pro are close to finalizing a purchase of Cabela’s, the New York Post reports. Speculation surrounding a potential purchase of Bass Pro Shop’s largest retail competitor has been swirling for months.
“The auction of Cabela’s is expected to close within days,” the report says.
Last week, Goldman Sachs partnered with a European fund to acquire marine electronics giant Navico—the parent company of Lowrance, Simrad and GoFree. Navico CEO Leif Ottosson has stated that the buy has little operational impact on Navico. It is speculated that Goldman Sachs involvement with the Bass Pro/Cabela’s deal would similarly have little operational impact.
Bass Pro and Cabela’s are generally regarded as the number one and number two big box outdoor retailers in North America. Together they would form a giant worth upwards of $7 billion annually.
Two private equity firms that were stated to be interested in purchasing Cabela’s in June—Apex Partners and TPG Capital—have fallen out of the race, leaving Bass Pro Shops as the lone suitor for the Sidney, Nebraska-based retailer.