U.S. firm buys longtime Winnipeg outfitter
Cabela's to make S.I.R. its Canadian headquarters
Last Updated: Thursday, August 16, 2007 | 6:14 PM CT
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Winnipeg consumers of camping and hunting gear are in for a change after officials with S.I.R. Warehouse Sports Store announced Thursday the business is being sold to an American chain.
The outdoor goods chain Cabela's has purchased the Winnipeg-based S.I.R, which operates a large mail-order operation and a retail store in the Manitoba capital.
S.I.R. general manager Terry Robinson says no jobs will be lost in the takeover.
"It's giving us the tools and support we need to take the next step in growth," he said. "We've been growing fairly continuously for the last number of years. This is going to give us a big boost forward."
The store will be Cabela's first Canadian presence.
"S.I.R.'s facilities will become the headquarters for our Canadian operations," Cabela's president Dennis Highby said in a release.
"S.I.R. has long been a tradition for many outdoor enthusiasts in Canada in much the same mould as Cabela's," he added. "Though we already have a loyal customer base in Canada, we expect significant growth in Canadian business as a result of this transaction."
Cabela's plans to use Winnipeg as a base to start a national internet, mail-order and retail business. The company also plans to build a retail store in Montreal.
The history of Cabela's is similar to S.I.R's: The Winnipeg company, named after founder Sidney Isaac Robinson, has been in business since 1924.
Cabela's began as a mail-order business started by two brothers in 1961, went public on the New York Stock Exchange in 2004 and boasted more than $2 billion in total revenue in 2006.
The purchase price has not been disclosed. Cabela's expects to close the deal in 30 to 60 days.
The sale marks the second major change in Manitoba's camping and outdoors sales in recent days.
United Army Surplus Sales, a large outfitter at a landmark location in downtown Winnipeg, declared bankruptcy in July after the store's creditors voted not to accept plans to restructure the company, which has been operating in Winnipeg since the 1940s.
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