Bass Pro bought Cabela’s in 2017 for 5.5 billion dollars. This move shook the hunting industry, but the block buster deal had more to come. Sansone Pacific just purchased 11 Cabela’s stores for $324.3 million!
Before Bass Pro bought Cabela’s, they had some competition. Sansome Pacific, a real estate investment firm based in San Francisco, was in the running to buy Cabela’s. Paul Souza, a Sansome Pacific principal & co-founder, said the San Francisco-based real estate investment firm pursued sale-leaseback deals with Bass Pro Shops when the merger happened in 2017. Sansome Pacific has now agreed to a sale-leaseback of 11 Cabela’s stores.
A sale-leaseback is a transaction in which one sells an asset and leases it back for the term; therefore one continues to be able to use the asset but no longer owns it. To clarify, the Cabela’s stores are now owned by Sansome Pacific, but ran by Bass Pro.
Bass Pro Shops has not said what stores were sold. When more information is available be sure to follow The Hunting News on Facebook.