Bass Pro Shops has 99 stores nationwide, while Cabela's has 85 locations
Two of the nation's largest outdoor retailers will become one as Bass Pro Shops will acquire Cabela's for $5.5 billion.
Bass Pro Shops, a private company based in Sidney, Neb. will pay $65.50 per share in cash to buy the publicly traded Cabela's, the company said in a news release. Both sell mainly fishing, hunting and camping gear.
Cabela's shares climbed 14.7 percent to $62.99 in pre-market trading Monday, USAToday.com said.
Cabela's sales were off 1.3 percent in the first half of 2016. While the number of sales dropped 8.1 percent, average revenue per sale jumped 8.2 percent, the report said.
Bass Pro Shops has 99 stores nationwide, including one on Atlantic City. In 2013, the company announced plans to open a second store in a 1.2 million square-foot mall planned for the 453-acre brownfield adjacent to the Driscoll Bridge in Sayreville. Ground has yet to be broken on the project.
There are no Cabela's locations in the state, though there is a 250,000 square foot location in Hamburg, Pa. just off Interstate 78 in the Lehigh Valley. Cabela's has 85 stores across the country.
The deal is expected be finalized in the first half of next year.
Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com. Follow him on Twitter @JeffSGoldman. Find NJ.com on Facebook.