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.
Pellet grills have electronic temperature controls that (should) keep the heat consistent. Top quality pellet grills can maintain temperatures within 5 degrees or less for hours at a time, with the auger releasing pellets as needed into the fire box to do so. A consistent temperature means less guess work and fantastic food! (If you read words like “heat zones” or “baffle”, that means that you’ll need to be playing with the heat to keep it consistent… so steer clear of those!)
Thank you so much for this very informative post!! My husband and I just bought the Traeger Select Elite Pellet Grill On Cart yesterday as a somewhat impulsive buy on a Costco shopping trip. It was the last day in the road show so I figured we could always return it if we have buyer’s remorse. Having no past experience with pellet smokers/grills, I am doing my due diligence in researching the reputation of this company and comparing to others in the market. The selling point for us with this particular Traeger grill was the ability to convert this to a built in unit by simply taking off the right side shelf. The sales rep at Costco had a picture of one that his parents had built into an attractive brick surround and we liked the option, however, after reading your post and several other sites, I am finding that Traeger may not be the best investment comparatively and with a purchase this expensive, long-term quality is extremely important to us. In staying within the same price range, I am very interested in the Rec-Tec and it’s stainless steel build. My question is, do you know if the Rec-Tec or another pellet grill @ the $1000 price point can be made to look “built-in” and if so, are there any dangers or potential problems with this.
The control panel is simple, uncomplicated and easy to use, no codes of crazy steps to remember. Turn the switch on, set the temp once it lights and you are ready to go. On the outside the controls may look simple but behind the scenes it is working to constantly monitor feed rates and temperatures to lock into your set temperature as close as possible. The longer you cook the smaller the adjustments , making this one of he most consistent cookers on the market.
The Silverbac and the Silverbac original models of the Grilla Grills come with a good build. It has a stainless steel burn grate and a stainless steel firebox with a rugged exterior. It is painted with a high-temperature powder coating on a heavy-duty steel body. The seams are welded, caulked and powder coated for a three-layer weather resistance. Its lid and all the internal components are made of stainless steel, greatly improving this product’s life.
Ease of Use: At first, the unit appears somewhat mind boggling to use however when you get over it the first occasion when it turns out to be very simple. For one thing, there is a get-together video instructional exercise from the maker’s site for a less demanding get-together. Else, anybody that has used a BBQ before wouldn’t have any type of trouble with the unit.
Pellet grills have a couple of very distinct advantages and disadvantages. The best can hold a constant temperature more or less indefinitely, provide even smoke at low temps, cook w/o smoke at high temps, make it possible to evenly cook several different meats and do a good job at two zone cooking. The Yoder excels at these. It is built like a tank, easy to use and I love it. One drawback for some pellet grills is the inability to reach high temps and sear. With the GrillGrates I have reached almost 600F and can sear with the best of them. Drawbacks. Well, it is a bit tricky to clean, but I guess I am keeping it cleaner than I did my previous grills!
One final word of caution when it comes to pellet pricing. If you see a price on pellets that seems too good to be true, there’s probably a reason for it. If the pellets you got an amazing deal on creates twice as much ash, doesn’t burn as well, generates wild temp swings and ends up ruining a $65 brisket were they worth it? What about if that flame out or temp swing cost you a whole pit full of meat and ruined the family reunion the next day? We are all for saving money as much as anyone, but perspective is key here. We are in no way saying that great pellets cannot be had for pennies per pound, but we are definitely saying, that if those pennies saved are not on a proven brand that you can trust then it’s probably not a bet worth taking.
With 440 square inches of cooking space, an auger-fed pellet delivery system, and a digital LED thermostat and controller, your cooking will be simple, whether it’s burgers, a whole turkey, or racks of ribs. The side shelf is a convenient place for cooking tools or plates while the bottom shelf can hold spare bags of pellets or jugs of sauces out of the way.