Cabela's Announces Sale of Wild Wings
SIDNEY, Neb.--(AmmoLand.com)- Cabela's Incorporated (NYSE: CAB) announced today the sale of its wildlife-art division, Wild Wings, LLC, to RDE Acquisition Company, LLC, which is owned by a former executive officer of Wild Wings. The closing of the sale took place on Oct. 30, 2009.
As one of the leading publishers, distributors and retailers of wildlife, sporting and nostalgic Americana art prints and art-related products, Wild Wings represents more than 50 of North America's top wildlife artists and Americana/nostalgia artists. Wild Wings reproduces original wildlife and nature artworks, sells such works as limited-edition prints and sells other collectibles through retail stores, the Internet and mail-order catalogs.
The company also licenses third parties to produce and sell collectibles and other items featuring such works. Its marketing, product development, sales, administration, picture framing, warehousing and framed-art shipping divisions all are located in Lake City, Minn.
“Wild Wings and its employees have been an integral part of Cabela's success over the last 10 years, and we are proud to have had them as part of our extended family,” said Tommy Millner, Chief Executive Officer of Cabela's. “With the sale to RDE Acquisition, we know Wild Wings will be in good hands. We wish them continued success and look forward to working with them in the future.”
Cabela's will continue to sell Wild Wings products through its retail stores, catalogs and Web site. The closing of this transaction will not have a significant impact on Cabela's cash flows or consolidated financial results in the fourth quarter of 2009. The Wild Wings sale is consistent with Cabela's strategy of focusing on core business operations. www.cabelas.com
About Cabela's Incorporated
Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world's largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's(R) has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter(R). Through Cabela's growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's CLUB(R) Visa credit card, which serves as its primary customer loyalty rewards program. Cabela's stock is traded on the New York Stock Exchange under the symbol “CAB”.