Missouri-headquartered Bass Pro Shops has completed the acquisition of rival outdoor retailer Cabela’s (asi/159350/43086), which has a presence in the advertising specialty industry. The companies announced the closure of the approximately $5 billion deal this week.

“We are excited to unite these iconic American brands to better serve our loyal customers and fellow outdoor enthusiasts,” said Bass Pro Shops Founder and CEO Johnny Morris in a statement. “As we move forward, we are committed to retaining everything customers love about both Bass Pro Shops and Cabela’s.”

The status of Cabela’s operations in the promotional products industry wasn’t clear this week. While a Cabela’s spokesperson told Counselor the plan was to continue work in the ad specialty space, a Bass Pro Shops spokesman said it was too soon to say if that would happen. “Like many other aspects of the business, we don’t yet have those answers today,” said the Bass Pro spokesman.

As part of the acquisition, shareholders of Cabela’s will receive $61.50 per share. Bass Pro Shops is a private company.

In a related transaction, Synovus Financial Corp. this week closed on its purchase of World’s Foremost Bank, the Lincoln, NE, subsidiary of Cabela’s that ran the company’s credit card. Synovus reportedly received $75 million to act as a middleman, and also kept $1.1 billion in deposits before reselling the credit card business to Capital One.

Moving forward, the combined company’s corporate headquarters will operate out of Springfield, MO – where Bass Pro Shops is based. That created uncertainty for the estimated 2,000 employees at Cabela’s now former corporate headquarters in the small town of Sidney, NE, at least some of whom will likely be out of a job. Bass Pro had told the Omaha World-Herald that it would maintain some presence in Nebraska.

The acquisition occurred after Bass Pro Shops announced last year that it would buy Cabela’s. Initially stalled by regulatory hurdles, the deal had to be restructured. The acquisition received regulatory approval this month.

Cabela’s and Bass Pro Shops specialize in providing products for outdoor activities that include hunting, fishing and camping. Combining forces will be a boon for customers, the companies said. “It means more selection as we are bringing together the best in fishing with Bass Pro Shops, the best in Hunting with Cabela's and the best in boating with Tracker Boats and other boating brands,” a statement at Bass Pro Shop’s website read. “Increased buying power will also help us deliver greater value to our customers.”