Outdoor sport retailer Bass Pro is on the hunt for cash, according to those familiar with the company. Bass Pro has hired Moelis, a boutique investment bank specializing in mergers and acquisitions to handle the fundraising. Although no one is exactly sure how the retailer intends on raising capital, it has been suggested that an efficient way for them to do this would be to sell a minority stake.
For Bass Pro, this is a major event. Founder Johnny Morris began selling fishing tackle out of a trailer in the 1970s and has since expanded the company to over 100 big box locations with an estimated annual revenue above $2.5 billion. Still private, little detail is known about just how valuable the company is. Potential investors include major private equity firms such as Kohlberg, Kravis & Roberts and Blackstone Group LP.