Bass Pro Shops sells 11 Cabela’s stores for $324.3 million
San Francisco — A joint venture led by Sansome Pacific, a real estate investment firm based in San Francisco, has acquired 11 locations of outdoor sports retailer Cabela’s for $324.3 million. The transaction was structured as a sale-leaseback with the seller, Bass Pro Shops, which owns the Cabela’s brand.
The specific locations of the 11 stores were not disclosed.
Bass Pro Shops acquired Cabela’s in 2017 in a blockbuster, $5.5 billion deal. The merger brought together three of the nation’s top outdoor sporting brands: Cabela’s, which specializes in hunting; Bass Pro Shops, which specializes in fishing; and White River Marine Group, a Bass Pro Shops company that specializes in boating. At the time of sale, the combined portfolio of the three brands totaled 184 stores in the U.S. and Canada.
Founded in 1998, Sansome Pacific has developed or acquired over 940 properties in 37 states.