Cabela's Incorporated has reached an agreement to purchase S.I.R. Warehouse Sports Store, a Winnipeg, CA-based hunt & fish specialty retailer. Cabela's currently has thousands of catalog and Internet customers in
Canada, but this would be its first Canadian retail operation. The
purchase price has not been disclosed.
S.I.R. was founded in 1924 by Sydney Isaac Robinson and has grown into one of Canada's leading outdoor outfitters through its mail-order operation and 44,000-square-foot retail store in the heart of Winnipeg's busiest shopping district. A family-owned and operated business, S.I.R is headed by Earl Robinson, son of the company's founder, who serves as president.
“S.I.R. has long been a tradition for many outdoor enthusiasts in Canada in much the same mold as Cabela's,” said Dennis Highby, Cabela's President and Chief Executive Officer. “This acquisition will allow us to accelerate growth of our retail, catalog and Internet business in Canada, and though we already have a loyal customer base in Canada, we expect significant growth in Canadian business as a result of this transaction.”
“S.I.R.'s facilities will become the headquarters for our Canadian operations,” Highby said. “And S.I.R.'s employees, who we expect to retain, will become our first Canadian employees.”
“In Cabela's 45-year history of continued growth, we've developed a reputation for unsurpassed customer service, value and an industry-leading selection of quality products. S.I.R. customers can expect the same,” Highby said.
The purchase, which Cabela's expects to close in 30 to 60 days, will be Cabela's second announced venture in Canada. The Sidney, Neb., -based company plans to build one of its trademark destination retail stores at the proposed Lac Mirabel development in Montreal.
Bieber Securities Inc. acted as adviser to S.I.R. Warehouse Sports Store in this transaction.
