"Camp Chef is excited to join the exceptional family of Vista Outdoor brands," said Ty Measom, Camp Chef President. "The opportunity to be part of this dynamic company will provide for the future growth and success of Camp Chef as a leader in our market. The hard work and dedication of Camp Chef employees, past and present, has made Camp Chef what it is today. We look forward to the opportunities ahead."
Vista Outdoor will pay a total purchase price of $74 million for Camp Chef, comprised of $60 million in cash paid at closing and $14 million in cash to be paid out in equal installments on the first, second and third anniversaries of the closing date, subject to certain conditions described below. However, the effective purchase price is lower, due to value created by certain tax assets resulting from the transaction and the deferred purchase price structure, leading to an effective multiple of approximately 6.4x Camp Chef's expected calendar year 2016 EBITDA. Vista Outdoor financed the purchase price paid at closing using borrowings under its existing revolving credit facility. Vista Outdoor expects the acquisition to be slightly accretive to FY17 earnings per share (EPS), including impacts associated with transaction expenses. A majority of the payment of $14 million of deferred purchase price will be contingent on continued employment of key members of management and certain other conditions. As a result, Vista Outdoor plans to record the payments conditioned on continued employment as a compensation expense in future periods in accordance with GAAP. However, for purposes of presenting certain non-GAAP financial measures, including adjusted EPS, Vista Outdoor expects to treat those deferred payments as deferred purchase price and will therefore adjust the payments out of its financial results in future periods as payments are made. The purchase price will also be subject to a customary working capital adjustment. Additional information, including impact on full-year guidance, related to Camp Chef will be presented during Vista Outdoor's second quarter FY17 earnings call and webcast.
The Universal Parts Premium Small Spaces Cover features The Universal Parts Premium Small Spaces Cover features a durable polyester fabric and weather resistant coating. The cover protects from weather conditions when the grill is not in use. Closure strips are designed for a secure attachment. This unit fits most electric patio grills. More + Product Details Close
Versus other hardwood pellet grills, Traeger represents a good value whether for a gift or for general use, although if you’re looking for a fully Made in America grill, you’ll want to consider other options. If you decide to go with Traeger, be certain you’ve thought about how much grilling area for food you’ll need and pick an adequate model, as the various Traeger grill price points depend heavily on available grilling area.
But even with their indirect heat, wood pellets do something gas can’t; they give your meat that natural, smoky flavor you expect from wood. They don’t create as much smoke as wood or charcoal, so the flavor is not as intense, you swap that intensity for convenient cooking. The smoke they do create is clean and easy to control. And the hotter you burn pellets, the cleaner they burn, letting you crank up the heat when you don’t need smoke.
It’s capable of many of the same feats as its sibling grill and other top-rated competing grills, but its piece de resistance is its Smart Grill Technology that allows you to control the temperature as easily as conventional ovens. Just don’t let it sit in direct sunlight and muck up its temp. The bottom line with this “smart” grill is that it has more pros than cons.
Does anyone know how to set up a pellet grill? Since pellet grills are a bit less common than a regular conventional gas grill, we had to conduct a bit of research and realized that pellet grills are as easy to set up, they just have more components. The components of the grill include a lid, which is designed to cover the contents of the grill as well as keep the heat in. Other than that, the ‘hopper’ is known as the area of the grill where an individual places the wood pellets and the grill drips the pellets onto the fire to keep the heat going.