Cabela's to buy Canadian outdoor retailer

SIDNEY, Neb. Cabela's Inc. announced Thursday it has reached an agreement to purchase S.I.R. Warehouse Sports Store, a Winnipeg-based specialty retailer that sells hunting, fishing, camping and related outdoor merchandise.

"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 ceo. "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."

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.

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.