After being acquired by their largest competitor for more than $5 billion, the “World’s Foremost Outfitter” is at risk of losing thousands of jobs – but both companies are staying mute on the subject.
In a statement issued on Monday, September 25th, the new owner of Cabela’s, Bass Pro Shops, revealed that they had finalized their purchase of one of the largest outfitters in the United States – a deal valued at more than $5 billion.
The announcement did not address how the new, bigger company will handle jobs located at Cabela’s headquarters in the small town of Sidney, Nebraska. Cabela’s employs approximately 2,000 people in the town, and has had a huge impact on the local economy.
Beyond the anticipated job losses at the headquarters, the future of Cabela’s stores remains uncertain. A blanket, non-committal statement on their merger information webpage simply states that “at this time” the company is going to “continue celebrating and promoting both brands” as they bring them together.
Since the merger was announced in October 2016, the uncertainty of the jobs in Sidney has had an immense effect on the town, yet some of the almost 7,000 residents remain open minded about it.
Bass Pro Shops stated that it anticipates they will keep some sort of operations in Sidney, however they did admit that redundant jobs will be consolidated at their own headquarters in Springfield, Missouri.
The company is positioning itself to be the “best of the best” in outdoor gear by leveraging the greatest parts of each company. Currently, no store closures have been announced and brands will remain the same, however Bass Pro Shops has the option to change that in the future.
What do you think about the merger? Do you think it’s good for the economy? Let us know in the comments below.