Integris Partners recently advised Cabela's, Inc. (NYSE: CAB), the leading specialty outdoor retailer and direct marketer, on the sale of its Outdoor Adventures business to Worldwide Trophy Adventures, LLC.
Founded in 1985, Cabela's Outdoor Adventures is one of the world's premier hunting, fishing and experiential travel businesses. The company connects outdoor enthusiasts with a wide roster of outfitters in North America and internationally, assisting with trip selection, logistics, and also with the application process for securing tags to limited-entry hunts across a range of states and species.
Worldwide Trophy Adventures is led by hunting entrepreneur Mark Peterson, who in addition to the WTA agency business is the owner and host of the "Destination Extreme" television show and other media properties in the outdoor industry. Upon the closing of the transaction, the combined WTA and Outdoor Adventures have become Cabela's Preferred Providers of this service and the acquired business and its staff remain based in Sidney, NE.
Ralph Castner, CFO of Cabela's, said "In setting out on this process, we wanted to find an excellent new home for our world class staff, a buyer that would continue to serve the Cabela's customer base professionally, and a financial result that reflected the value of this business and its position in the market. The team at Integris, with their knowledge of the outdoor industry and attention to detail, was able to fulfill all these expectations. We are very pleased with the result."
Mark Peterson, majority owner of Worldwide Trophy Adventures, said "We are delighted to be the new stewards of the Outdoor Adventures business and team. Integris Partners represented their client well and dealt with us straight. Going forward, WTA is in a continuing business relationship with Cabela's, and Integris helped to make sure it started off in a collaborative, productive manner."
The transaction closed on December 18, 2015. Financial details were not disclosed. The transaction team consisted of Robert Heilbronner, Ethan Furtek, and Jared Syke, with legal counsel from Helmut Brugman of Koley Jessen PC.