Reuters: Bass Pro teams with Goldman on Cabela's bid

Citing people familiar with the matter, Reuters reports Springfield-based outdoor retailer Bass Pro Shops has partnered with Goldman Sachs Group Inc.'s private equity arm to make an offer for competitor Cabela's Inc.

A Bass Pro spokesman did not respond yesterday to a request for information by Springfield Business Journal.

According to Reuters, the partnership gives Bass Pro the necessary equity financing to pursue Sidney, Nebraska-based Cabela's.

Bass Pro reportedly faces competition from buyout firms, and the sale process is in its early stages, the sources told Reuters on Tuesday.

Late last year, Cabela's announced it was working with investment bank Guggenheim Securities LLC to explore strategic alternatives, including a sale.

Reuters first reported in November that Bass Pro was courting Cabela's.

Appearing in November on CNBC’s “Squawk Box,” Bass Pro founder Johnny Morris acknowledged the media reports but did not confirm them.

“There’s a lot of rumors from this. Who knows where they’ll lead, if anywhere, but we have a high regard for that company,” Morris said at the time. “Both our companies grew up pretty much the same way, from passion of the founders around the outdoors. There’s so many great people there. It’s a great brand we respect.”

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