Bass Pro Shops buying Cabela's...

[Ham]

I don't see an upside to a Bass Pro takeover of Cabela's. I expect Cabela's clothing quality to suffer. 

[dtrs5kprs]

11 minutes ago, Champ188 said:

This "merger" has been in the works for a few years. Johnny Moneybags knew when he acquired Ranger who their No. 1 dealer is nationwide --- Cabela's. Now he owns both the manufacturing and retail ends.

That, and their credit card business. Can't really put Rangers in BPS next to Nitros. Now he has ready made outlets.

**Whoops. Goofy slow connection.**

[vernon]

7 hours ago, fishinwrench said:

Well sure.  When on a gay lake you gotta throw gay colors. 

I'm kidding, I'M KIDDING!  

Kidding or not, there went YOUR political career!  And you'll probably have protesters outside your front door before sunset!  People like YOU just don't get it.  

The only good news for you is that normal will soon be a minority and then maybe you can demand your equal rights!

[ness]

4 hours ago, dtrs5kprs said:

That, and their credit card business. Can't really put Rangers in BPS next to Nitros. Now he has ready made outlets.

Nah -- Capital One bought the credit card bidness. That was a real money maker for Cabela's. They didn't disclose a price, but Citigroup bought AMEX's Costco portfolio for 10%. Cabela's receivables were around $5 billion, so say another $500 million for that.

This is a biiig deal, and Johnny doesn't have nearly this much cash. It'll be interesting to see who invested and what they want, because they'll have a big say in how things go. Just like the private equity guys were pushing Cabela's to make changes and/or sell, Johnny now has investors or bankers to keep happy.

My tummy tells me this is the beginning of the end. Too much brick and mortar, too many employees, too much competition. Cabela's shareholders are the winners. Maybe.

 

[Quillback]

If I'm reading the article referenced by the link below correctly, Cabelas got over 5 Billion for their CC operation.  Also looks like Goldman Sachs fronted Johnny a couple of billion for the purchase.  Of course, Goldman will want a return on that, which leads to speculation about an eventual BPS IPO. 

https://www.bloomberg.com/gadfly/articles/2016-10-03/why-cabela-s-reeled-in-a-better-than-expected-price-from-bass-pro

[ness]

5 minutes ago, Quillback said:

If I'm reading the article referenced by the link below correctly, Cabelas got over 5 Billion for their CC operation.  Also looks like Goldman Sachs fronted Johnny a couple of billion for the purchase.  Of course, Goldman will want a return on that, which leads to speculation about an eventual BPS IPO. 

https://www.bloomberg.com/gadfly/articles/2016-10-03/why-cabela-s-reeled-in-a-better-than-expected-price-from-bass-pro

I was taking in terms of a premium, I.e. $500 million over face amount. 

[Quillback]

1 minute ago, ness said:

I was taking in terms of a premium, I.e. $500 million over face amount. 

Yep, chunk of change for sure.

[96 CHAMP]

14 minutes ago, Quillback said:

If I'm reading the article referenced by the link below correctly, Cabelas got over 5 Billion for their CC operation.  Also looks like Goldman Sachs fronted Johnny a couple of billion for the purchase.  Of course, Goldman will want a return on that, which leads to speculation about an eventual BPS IPO. 

https://www.bloomberg.com/gadfly/articles/2016-10-03/why-cabela-s-reeled-in-a-better-than-expected-price-from-bass-pro

Interesting article Quillback, thanks for posting that

[ness]

Anybody I've ever talked to at Goldman Sachs was a really great guy. I'm sure they'll be easy to get along with and quite understanding. ?

[slowbait]

Put yourselves in Johnny's place, what would you have done?