Bass Pro Shops’ roughly $4 billion acquisition of rival outdoor retailer Cabela’s is complete.
As part of the deal, Cabela’s credit-card unit was sold to Synovus bank, which received $75 million to act as a middleman. Synovus also kept $1.1 billion in deposits before reselling the credit card business to Capital One.
Bass Pro says it will continue promoting both brands following the deal. Both outdoor companies highlight their humble beginnings in a video about the merger, which comes roughly two years after Cabela’s put itself up for sale.
Cabela’s, which has a retail store in Gonzales, was founded in 1961. Bass Pro, which has locations in Denham Springs and Bossier City, got its start in 1971. Founder Johnny Morris developed a following in the region and created the Bass Pro catalog in 1974. Morris also introduced the Bass Tracker fishing boat in 1978 that was designed specifically for fishermen.
