Every Cabela’s in Minnesota – Except One – Has Been Sold

Three of the four Cabela's stores in Minnesota have been sold to a Los Angeles-based investment group in the past month. The three stores sold for a combined $72 million.

The lone Minnesota Cabela's not sold to Fortress Investment Group is the Woodbury store.

Fortress Investment Group purchased the Cabela's stores in Rogers and East Grand Forks on February 29th after buying the Owatonna store earlier. The Rogers store - the largest in Minnesota - sold for $41.79 million and sits on 45 acres. The purchase includes the store as well as the shipping and receiving building.

The Woodbury store is currently owned by Store Capital, which paid $26.3 million for the store in 2017.

Cabela's

The American retailer was founded in Chappell, Nebraska by Richard and Jim Cabela in 1961. It began when Richard purchased $45 worth of fishing flies, and then advertised them for sale in the local newspaper (remember those things?). After garnering just a single response from the local paper advert, Cabela placed an ad in a national magazine. The business took off from there.

After becoming a printed catalog, the business moved into the basement of a family store, then an American Legion hall, and then into a former John Deere facility.

After a humble beginning, Cabela's would go on to produce video games, founded a bank, a 501(c)(3) nonprofit called The Outdoor Fund, and works with organizations that provide military and Veteran support, as well as conservation.

Cabela's as an entity was sold to Bass Pro Shops in 2017 and remains a subsidiary.

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