Official Release On Bass Pro Shops’s Buy-Out Of Cabela’s

Below is the official press release taken from the Cabelas’ investor relations page. I only wish I had bought Cabelas’ stock back in February of this year when it had dipped down to about $39 per share. The all-cash purchase price is $65 per share!

Though the two stores are very similar I end to prefer Cabela’s over Bass Pro Shops.

Legendary Outdoor Brands Bass Pro Shops and Cabela’s to Combine


Merger Will Enhance Ability to Serve Outdoor Enthusiasts with Complementary Product Offerings and Geographic Footprints


Cabela’s Shareholders Will Receive $65.50 Per Share in Cash


Bass Pro Shops Entering into Multi-Year Credit Card Partnership with Capital One


Bass Pro Shops and Cabela’s Club Customer Loyalty Programs Remain Unchanged


SPRINGFIELD, Mo. & SIDNEY, Neb.–(BUSINESS WIRE)–Oct. 3, 2016– Bass Pro Shops and Cabela’s Incorporated (NYSE:CAB), two iconic American outdoor companies with similar humble origins, and with a shared goal to better serve those who love the outdoors, today announced that they have entered into a definitive agreement under which Bass Pro Shops will acquire Cabela’s for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion.


In addition, upon closing Bass Pro Shops will commence a multi-year partnership agreement with Capital One, National Association, a wholly-owned national banking subsidiary of Capital One Financial Corporation (NYSE: COF), under which Capital One will originate and service the Cabela’s CLUB, Cabela’s co-branded credit card, and Bass Pro Shops will maintain a seamless integration between the credit card program and the combined companies’ retail operations and deep customer relationships. All Cabela’s CLUB points and Bass Pro Shops Outdoor Rewards points will be unaffected by the transactions and customers can continue to use their credit cards as they were prior to the transaction. Capital One intends to continue to operate the Cabela’s CLUB servicing center in Lincoln, Nebraska.


A driving force behind this agreement is the highly complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses. The essence of both Bass Pro Shops and Cabela’s is a deep passion to serve outdoor enthusiasts and support conservation. The combination brings together three of the nation’s premier sporting brands: Cabela’s, a leader in hunting; Bass Pro Shops, a leader in fishing; and White River Marine Group, a worldwide leader in boating, which is part of Bass Pro Shops.


Bass Pro Shops, Cabela’s and White River Marine Group represent the best of American entrepreneurship, innovation and devotion to customers. The combined companies will strive to provide a remarkably enhanced experience for customers, increased opportunities for team members and greater support for conservation activities.


CABELA’S


Founded in 1961 by Dick, Mary and Jim Cabela, Cabela’s is a highly respected marketer of hunting, fishing, camping, shooting sports and related outdoor merchandise. Today, Cabela’s has over 19,000 “outfitters” operating 85 specialty retail stores, primarily in the western U.S. and Canada. Cabela’s stores, catalog business and e-commerce operations will blend seamlessly with Bass Pro Shops and White River Marine Group. Over the past 55 years Cabela’s has built a passionate and loyal base of millions of enthusiasts who shop both at its retail stores and online.


BASS PRO SHOPS


Bass Pro Shops, founded in 1972 by avid young angler Johnny Morris, is a leading national retailer of outdoor gear and apparel, with 99 stores and Tracker Marine Centers located primarily in the eastern part of the U.S. and Canada. Morris started the business with eight square feet of space in the back of his father’s liquor store in Springfield, Mo., the company’s sole location for the first 13 years of business. Johnny’s passion for the outdoors and his feel for the products and shopping experiences desired by outdoor enthusiasts helped transform the industry. Bass Pro Shops, which employs approximately 20,000 team members, has been named by Forbes as one of “America’s Best Employers.” The company also operates Big Cedar Lodge, America’s Premier Wilderness Resort, welcoming more than one million guests annually to Missouri’s Ozark Mountains.


WHITE RIVER MARINE GROUP


In 1978, Morris revolutionized the marine industry when he introduced the world’s first professionally rigged and nationally marketed boat, motor and trailer packages. Tracker quickly became and has remained the number one selling fishing boat brand in America for the last 37 years running. White River Marine Group offers an unsurpassed collection of industry-leading brands including Tracker Boats, Sun Tracker, Nitro, Tahoe, Regency, Mako, Ranger, Triton and Stratos.


MANAGEMENT COMMENTARY


“Today’s announcement marks an exceptional opportunity to bring together three special companies with an abiding love for the outdoors and a passion for serving sportsmen and sportswomen,” said Johnny Morris, founder and CEO of Bass Pro Shops. “The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system. We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers. We look forward to continuing to celebrate and grow the Cabela’s brand alongside Bass Pro Shops and White River as one unified outdoor family.”


“Cabela’s is pleased to have found the ideal partner in Bass Pro Shops,” said Tommy Millner, Cabela’s Chief Executive Officer. “Having undertaken a thorough strategic review, during which we assessed a wide variety of options to maximize value, the Board unanimously concluded that this combination with Bass Pro Shops is the best path forward for Cabela’s, its shareholders, outfitters and customers. In addition to providing significant immediate value to our shareholders, this partnership provides a unique platform from which our brand will be extremely well positioned to continue to serve outdoor enthusiasts worldwide for generations to come.”


“This opportunity would not be possible without the contributions of the many wonderful Cabela’s, Bass Pro Shops and White River team members,” Morris said. “All three companies are blessed to have been built by the extraordinary efforts of many tremendously talented, dedicated people throughout our respective histories, and we’re thrilled to consider what the combined team can achieve going forward.”


Following the closing of the transaction, Bass Pro Shops intends to celebrate and grow the Cabela’s brand and will build on qualities that respective customers love most about Cabela’s and Bass Pro Shops. In addition, Bass Pro Shops recognizes the strength of Cabela’s CLUB Loyalty program and intends to honor Cabela’s customer rewards and sees potential over time to expand the program in the combined company.


Bass Pro Shops appreciates and understands the deep ties between Cabela’s and the community of Sidney, Nebraska. Dick, Mary and Jim Cabela founded their company in Sidney in 1961, and the company has flourished with its base of operations there ever since. Bass Pro Shops intends to continue to maintain important bases of operations in Sidney and Lincoln and hopes to continue the very favorable connections to those communities and the Cabela’s team members residing there.


Bass Pro Shops Founder and CEO Johnny Morris will continue as CEO and majority shareholder of the new entity, which will remain a private company with a continuing long-term view of supporting the industry and conservation. Morris earned a reputation as a leading retailer and conservationist. In 2008, the National Retail Federation named him as Retail Innovator of the Year. In 2015, the same organization named him as one of 25 People Shaping the Future of Retail in America. In 2012, The Association of Fish and Wildlife Agencies named Morris Citizen Conservationist of the Year.


“Conservation is at the heart and soul of Bass Pro Shops. Bass Pro Shops and Cabela’s share a steadfast belief that the future of our industry, and the outdoor sports we all love, depends – more than anything else – on how we manage our natural resources,” said Morris. “By combining our efforts, we can have a profound positive impact on the conservation challenges of our day and help foster the next generation of outdoor enthusiasts.”


PREFERRED FINANCING


Bass Pro Shops is proud to have secured preferred equity financing from the Merchant Banking Division of Goldman Sachs and Pamplona to facilitate the transaction. Goldman Sachs has committed $1.8 billion and Pamplona has committed $600 million for a total preferred financing commitment of $2.4 billion.


The Merchant Banking Division of Goldman Sachs is one of the leading private equity investors in the world, focusing on assisting large, high-quality companies with best-in-class management teams to achieve their growth objectives. The division brings significant experience and a strong track record of success in supporting industry-leading founder-led businesses. Pamplona Capital Management is a New York and London based specialist investment manager established in 2005. Pamplona is currently managing its fourth private equity fund, Pamplona Capital Partners IV, LP, which was raised in 2014. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.


TRANSACTION DETAILS


The transaction provides Cabela’s shareholders with a premium of 19.2% to Cabela’s closing share price on Sep. 30, 2016, the day prior to announcement of the transaction, 39.7% to the closing share price on Dec. 1, 2015, the day before Cabela’s announced its exploration of strategic alternatives and 57.1% to the 90-day volume weighted trading average prior to Dec. 1, 2015. Immediately prior to closing, Capital One will acquire certain assets and assume certain liabilities of Cabela’s World’s Foremost Bank. The cash proceeds from this transaction will remain with Cabela’s until it is acquired by Bass Pro Shops.


The transaction agreements were unanimously approved by Cabela’s Board of Directors following a comprehensive review of strategic and financial alternatives.


The transaction, which is expected to close in the first half of 2017, will be completed through a cash merger and is subject to approval by Cabela’s shareholders, as well as regulatory approvals and other customary closing conditions.


J.P. Morgan served as exclusive financial advisor to Bass Pro Shops and Latham & Watkins served as Bass Pro Shops’ legal counsel, with expert assistance from O’Melveny & Myers. Goldman, Sachs & Co. served as financial advisor to The Merchant Banking Division of Goldman Sachs and Davis Polk & Wardwell LLP served as legal advisor. Goldman, Sachs & Co. also served as advisor to Bass Pro Shops on the bank transaction, and Morrison & Foerster served as legal counsel. BofA Merrill Lynch, Wells Fargo Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets, UBS Securities LLC, and Goldman Sachs are providing debt financing to support the transaction.


Guggenheim Securities served as exclusive financial advisor to Cabela’s and Sidley Austin LLP and Koley Jessen P.C., L.L.O. served as Cabela’s legal counsel.


The Kessler Group and Credit Suisse acted as financial advisers to Capital One and Wachtell, Lipton, Rosen & Katz and Chapman and Cutler acted as legal advisers.


ADDITIONAL INFORMATION REGARDING THE TRANSACTION AND WHERE TO FIND IT


This communication does not constitute an offer to sell or the solicitation of an offer to buy the securities of Cabela’s Incorporated (the “Company”) or the solicitation of any vote or approval. This communication is being made in respect of the proposed merger transaction involving the Company, Bass Pro Group, LLC (“Bass Pro Group”) and a wholly-owned subsidiary of Bass Pro Group. The proposed merger of the Company will be submitted to the stockholders of the Company for their consideration. In connection therewith, the Company intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a definitive proxy statement. However, such documents are not currently available. The definitive proxy statement will be mailed to the stockholders of the Company. BEFORE MAKING ANY VOTING OR ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of the definitive proxy statement, any amendments or supplements thereto and other documents containing important information about the Company, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company will be available free of charge on the Company’s website at www.cabelas.com under the heading “SEC Filings” in the “Investor Relations” portion of the Company’s website. Stockholders of the Company may also obtain a free copy of the definitive proxy statement and any filings with the SEC that are incorporated by reference in the definitive proxy statement by contacting the Company’s Investor Relations Department at (308) 255-7428.


PARTICIPANTS IN THE SOLICITATION


The Company and its directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of the Company is set forth in its Annual Report on Form 10-K for the fiscal year ended January 2, 2016 and Amendment No. 1 thereto, which were filed with the SEC on February 22, 2016 and April 29, 2016, respectively, and in subsequent documents filed with the SEC, each of which can be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation of the stockholders of the Company and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the preliminary and definitive proxy statements and other relevant materials to be filed with the SEC when they become available.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS


This document contains “forward-looking statements” that are based on the Company’s beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. All statements other than statements of current or historical fact contained in this report are forward-looking statements. The words “believe,” “may,” “should,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “plan,” “confident,” and similar statements are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause the Company’s actual results, performance, or financial condition to differ materially from the expectations of future results, performance, or financial condition the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the satisfaction of the conditions precedent to the consummation of the proposed merger, including, without limitation, the receipt of stockholder and regulatory approvals; unanticipated difficulties or expenditures relating to the proposed merger; legal proceedings, judgments or settlements, including those that may be instituted against the Company, the Company’s board of directors, executive officers and others following the announcement of the proposed merger; disruptions of current plans and operations caused by the announcement and pendency of the proposed merger; potential difficulties in employee retention due to the announcement and pendency of the proposed merger; the response of customers, suppliers, business partners and regulators to the announcement of the proposed merger; the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company’s ability to successfully execute the Company’s omni-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company’s products, including increases in fuel prices; the availability of the Company’s products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Company’s systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Company’s ability to protect the Company’s brand, intellectual property, and reputation; the Company’s ability to prevent cybersecurity breaches and mitigate cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including the ongoing audits by tax authorities and compliance examinations by the Federal Deposit Insurance Corporation (“FDIC”)); the Company’s ability to manage credit, liquidity, interest rate, operational, legal, regulatory capital, and compliance risks; the Company’s ability to increase credit card receivables while managing credit quality; the Company’s ability to securitize the Company’s credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry; and other risks, relevant factors, and uncertainties identified in the Company’s filings with the Securities and Exchange Commission (“SEC”) (including the information set forth in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended January 2, 2016, and in Part II, Item 1A, of the Company’s Quarterly Report on Form 10-Q for the first quarter ended April 2, 2016), and in subsequent filings, which filings are available at the SEC’s website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company’s forward-looking statements speak only as of the date of this document. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

Hasn’t Bought A Gun There, Has She? (Updated)

The latest little campaign that has sprung from the febrile mind of Shannon Watts is against Cabelas. It’s entitled, “Tell Cabela’s: No Completed Background Check, No Gun Sale.”

Unlike Little Ms. Shannon and her acolytes, I have actually purchased a firearm at Cabelas. I bought a used FN Mauser in 6.5×55 at the Greenville, SC store last year. As I’m sure Linoge would attest, Cabelas is not slack when it comes to gun sales.

Let me take you through the process as I remember it. Also bear in mind that I have a NC CHP which is accepted as a substitute for the NICS check in North Carolina. I also have a Curios & Relics FFL which could have allowed Cabelas to ship that Mauser to my door if I had gone that route.

First, the clerk wrote up the sale. He then took me, my ID, and the firearm to another sales counter to start the NICS check process. I was turned over to a specialist who handled the Form 4473 paperwork which was actually on the computer. After I filled out the computer screen, it was checked for accuracy. Then it was checked again by a manager. I remember having to wait until an authorized manager was available. Once she gave the OK, it was submitted to the FBI in Parkersburg, WV.

It came back OK. Duh! A manager gave the authorization to complete the sale.

Now I actually pay for the Mauser. After I paid for it, a manager walked me and the firearm out of the store. From time the transaction began until I walked out the door was close to 30 minutes.

Shannon, please tell me again how Cabelas is being a slacker when it comes to firearms transactions.

I also note that you are addressing your petition to Thomas Millner who is the CEO of Cabelas. I have one word for you – Zumbo.

Prior to becoming the CEO of Cabelas, Tommy Millner was the CEO of Remington Arms for 10 years. He was CEO of Remington when Jim Zumbo stepped on it. He pulled Remington’s sponsorship of Zumbo’s TV show within a matter of days after Zumbo called the AR-15 a “terrorist rifle”.  Millner saw the outraged response of the gun community and he listened.

So Shannon, let me pose this simple question to you. Do you think Tommy Millner and Cabelas is going to kow-tow to you and your airhead friends OR is he going to put his business at risk?

I think we all know the correct answer.

UPDATE: Linoge posted this on Facebook regarding the differences between a denial and a hold/delay in a NICS check. He worked the Gun Library at Cabela’s for a while so I think he knows of what he speaks. The key thing is that the default in the NICS check is “yes”. He gave me permission to reprint it.

Wait.


Everytown for Gun Safety and Moms Demand Action for Gun Sense in America are harassing Cabela’s for abiding by federal law?


Let’s make something clear here – an FFL making a sale on an “incomplete” background check is breaking the law. Period dot.


Cabela’s doesn’t sell people guns if they don’t complete their background checks. I should know. I helped with those background checks.


Furthermore, a “hold / delay” in the background system is NOT an “incomplete” background check.


For those not in the know, the background checks you submit to whenever you purchase a firearm from an FFL – ANY FFL at ANY location, including gun shows – can have one of three responses.


1. Approved. Congratulations. You’re either not a criminal, or you don’t share enough identifying characteristics with a criminal, and you’re allowed to purchase a firearm.


2. Denied. Suck. You’re either a criminal, or you share enough identifying characteristics with a criminal, and you can’t buy that gun. You can, however, appeal the decision. I know of perfectly law-abiding folks who ONLY ever get this response, and it gets overturned every time. The system is that broken.


3. Delayed. Wat? Well, the FBI – you know, the owners of the NICS system – have an explanation of this right here: https://www.fbi.gov/…/federal-firearms-license…/a-nics-delay Basically it boils down to NICS is not willing to say the person’s clean, but can’t find any reason to deny him, so they’re going to go do some more homework. If the FFL doesn’t hear anything from NICS after three full business days have elapsed, they are allowed to lawfully transfer the firearm to the buyer.


That is not an “incomplete” background check, as the blithering imbeciles at the anti-rights organizations are trying to get everyone to believe. That is a background check that failed to discover any disqualifying problems in the buyer’s history, and, as such, cannot prevent the person from purchasing the firearm.


Simply put, the government doesn’t give us the permission to buy firearms. They only tell FFLs if we’re not allowed to – the default, however, is “yes”, as it absolutely should be in the free, permissive society that America is supposed to be.


Suffice to say, statists like the ignorant tools at Moms Demand Action and Everytown for Gun Bans want the equation to work the other way.

Road Trip To Cabelas

I’ve been wanting to visit the new Cabelas store located in Greeenville, South Carolina since it opened earlier this year. I suggested that we drive down there on Saturday and the Complementary Spouse agreed After all, it is only a hour’s drive or so from Asheville to Greenville.

The Greenville store is what Cabelas considers their next generation store. In other words, much smaller than their massive stores like the one in Hamburg, Pennsylvania. I visited that store a number of years ago and was blown away by it.

The front of the Greenville store

I wasn’t really looking for much to buy at the store. I needed a new Cabelas cap as mine was old and ratty. I also wanted to check out the Gun Library and the Bargain Cave. Of course, I expected to make a few impulse buys but not exactly what I came home with. More on that later.

The entrance to the store had a massive fireplace with a sitting area and a number of specimen mounts. The style is what one would expect for an outdoor destination store like Cabelas or, for that matter, most Bass Pro Shop stores.

It is a nicely laid out store with the clothing sections in the middle, the hunting and guns on the left side of the store, and the fishing and camping stuff on the right side of the store. As to location, it is about a block or two off of Interstate 85 at Exit 51. I think the store might make a good place for a blogger meetup as it has a conference room and a grill. The Greenville location is about an hour from Asheville, 1 1/2 hours from Charlotte, and about 2 hours from the Atlanta metro area.

The Gun Library had some impressive firearms with equally impressive prices. The display cases had everything from Colt revolvers to high-end nicely engraved Browning Superposed double shotguns. The entrance is flanked by a pair of elephant tusks. I’m not sure if they really were ivory or just replicas but it still makes for an impressive entrance-way.

Just outside the Gun Library were four double-level, double-sided racks of used long guns. And that is where I met my downfall. As I said earlier, I had only wanted to check the place out and buy a cap plus maybe something from the Bargain Cave. My downfall was a FN Mauser in 6.5×55 Swede mounted in a California-style walnut stock (rollover stock with exaggerated palm swell and contrasting wood tip). The scope that was mounted on it was an older Bushnell 2.5 Banner scope made in Japan. It has a nice, crisp trigger with no creep. I haven’t put it on my trigger gauge yet but I’m guessing it is set at about 3 lbs.

The best part is the price was about what you’d pay for a Ruger American if you paid full retail. I’m going to have to do some research on it but I’m thinking it was a FN barreled action that was customized once it got to the US. There are no gunsmith markings that I can see without pulling the action from the stock. It does have the customary Belgian proof marks and the action is marked “FAB. NAT. D’ARMES de GUERRE” with “HERSTAL – BELGIQUE” underneath it. (I’ll get pictures up as soon as I have time to take some decent shots of it.)

I have to say that Cabelas was very organized and very efficient in checking you out with a firearm purchase. It was the first time I ever filled out the Form 4473 using a computer though I did sign a printed copy of it. The only lag was getting the purchase paperwork and Form 4473 double checked and signed off on by two “team captains”. The cashier then walks you out the store and takes off the trigger lock at the entrance. It is obvious that Cabelas wants to make sure the paperwork is correct, that BATFE is happy, and that negligent discharges don’t happen while the firearm is still in their store.

The final stop before arriving home was at one of the many fruit stands dotting north Greenville County to pick up some fresh South Carolina peaches. I don’t know who grows the better peaches – Georgia or South Carolina – but these were mighty good.

This Move By Cabelas Is Going To Cost Me Money



Cabela’s announced today that they were going to be opening a store in Greenville, South Carolina in the spring of 2014. They also say in the announcement they are going to open one in Bristol, VA.  Having been a customer of Cabela’s for years now, I can see that these moves by them is going to cost me some money. It is one thing to have one of their destination stores hundreds of miles away and another thing to have not one but two within an hour’s drive!

SIDNEY, Neb.–(BUSINESS WIRE)–Jan. 15, 2013– Cabela’s Incorporated (NYSE: CAB), the World’s Foremost Outfitter® of hunting, fishing and outdoor gear, announced today plans to open a store in Greenville, S.C., bringing Cabela’s extraordinary retail experience to customers in Greenville and the surrounding area.

Cabela’s expects to open the store – its first South Carolina location – in spring 2014. The 100,000-square-foot store will be located in Magnolia Park, a newly redeveloped shopping center located at the junction of Interstates-385 and -85 on Woodruff Road. Magnolia Park, being developed by Menin Development, already includes Costco, Regal Cinemas, Rooms to Go, Cheddar’s and other retailers and restaurants, with plans for additional expansion.

“South Carolinians are part of an exceptional outdoor tradition and share the Cabela’s lifestyle and values. We wanted to build a store in the Greenville area to recognize that,” said Cabela’s Chief Executive Officer Tommy Millner. “We are also excited about the opportunity to expand our retail footprint in the Southeast.”

The store is expected to employ approximately 235 full-time, part-time and seasonal employees, and most will come from Greenville and the surrounding area. Cabela’s typically attracts as staffers experienced outdoor recreationalists, who join the Cabela’s family of employees known for their passion for and knowledge of the outdoors as well as excellent customer service skills.

“We are excited that Cabela’s has chosen Greenville for its first South Carolina location,” said Greenville Mayor Knox White. “Cabela’s unique retail experience is a great fit for Greenville and will complement other unique retail offerings in Magnolia Park. We welcome Cabela’s and look forward to their opening.”

The building’s exterior will reflect Cabela’s popular store model with log construction, stonework, wood siding and metal roofing. A large glass storefront will allow customers to view much of the store’s interior as they approach the building. The inside will feature the company’s next-generation layout, designed to surround customers in an outdoor experience, including museum-quality wildlife displays and trophy animal mounts displayed on a mountain. The store will also feature a Gun Library, Bargain Cave, Fudge Shop and indoor archery range. The start of construction is still to be determined.

“We are pleased and proud that Cabela’s has chosen Magnolia Park as their point of entry into the Southeast.” said Craig Menin, President of Menin Development. “The fact that Cabela’s, with all of the various options available to it, chose Magnolia speaks directly to the quality of our market and of our project. We welcome Cabela’s to Magnolia and join everyone in the area as we eagerly await the opening of their store in 2014.”

Also today, Cabela’s announced plans to build a store in Woodbury, Minn., opening in 2014. Cabela’s has previously announced plans to open stores in Saginaw, Mich.; Columbus, Ohio; Grandville, Mich.; Louisville, Ky.; Green Bay, Wis.; Thornton, Colo.; Lone Tree, Colo.; Regina, Saskatchewan, Canada; Kalispell, Mont.; Anchorage, Alaska; Bristol, Va.; and Christiana, Del. It also will relocate its Winnipeg, Manitoba, Canada, store. Currently, Cabela’s operates 40 retail stores across the United States and Canada.

Cabela’s stores showcase thousands of products, including hunting, fishing, camping, hiking, boating and wildlife-watching gear, as well as clothing and outdoor-themed gifts and furnishings. The company is famous for its strong brand and world-renowned reputation for delivering quality merchandise, value and legendary customer service.

Actions On Taxes Have Consequences

I’ve written a couple of times about the Cook County “violence tax”. On Friday, the Cook County Board’s Finance Committee in a special meeting approved this tax.

Taxes are an important consideration for any business.

Outdoor (and firearm) retailer Cabela’s opened a large store in Hoffman Estates, IL in 2007. This is in the western part of Cook County. Soon after, the Cook County Board raised property taxes. Retailers are assessed based upon their retail space. Though it has a second floor, this Cabela’s store has closed that section and crammed everything into the first floor of the store in an effort to reduce their taxes.

In an article published yesterday in The American Thinker, Anthony Ciani speculates that the Hoffman Estates store may become the first Cabela’s to close down and this new firearms tax may be the reason.

When bullets only cost 3.5¢ to 20¢ apiece, a 5¢ tax is ridiculous, and $25 per gun is around 5% to 10% of the value of most guns. Preckwinkle dropped the bullet tax but the gun tax was just approved by the Finance Committee for a vote by the whole, along with a bunch of other tax increases. Primary season is long over with. The proposal is not an anti-gun tax, but retail vampirism disguised as sin taxes. The normal sales taxes in Cook County are already high, and the sales tax in the Village of Hoffman Estates is 9.5%. There is no reason for a person to pay a total tax of between 14.5% and 19.5% on a gun purchase in Cook County, when they can go 3 miles down the road to one of Illinois’ largest gun dealers, GAT Guns, in East Dundee, Kane County, where the sales tax is only 8.25%.

While Cabela’s has not indicated that they will close the store, Ciani says they have good reason to do it and offers some suggestions on how they can make it a win-win proposition for the company.

Read the whole article here.