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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.
A few other mentionable features are that it has a highly durable temperature proof textures powder coat finish, it features auto start. The REC TEC Wood Pellet Grill accommodates temperatures from 180 degrees Fahrenheit to 500 degrees Fahrenheit with 5 degrees increment. This amazing temperature control features let you be in control of how much heat you want to cook your food in, without having to worry about it getting dry or burnt. This low increment allows you to cook delicate meats like fishes and seafood as well! It smart grill tech makes sure that the temperature you set is always consistent and constant. It also has an “Extreme” smoke feature from the 180 to 250 degrees Fahrenheit setting that intensifies the smoke in the grill.
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.
Hey Eric! Man, thank you for the kind words. While I don’t post every day, I do try to make what I share with you guys as informative as possible. To that end, your words mean a lot. Now, the pellet release option is a great feature to have on any pellet smoker. In cases where you don’t have one, I suggest using a small shop vac you use just for pellet removal. Works great. But the quick release chute option saves a ton of time and effort for sure. Not what I’d call a deal breaker if a pellet smoker you like doesn’t have one. However, I’d like to see it become standard on pellet smokers for sure!
This is best pellet smoker for the money if you are a newbie but want to cook like a pro. It is super easy to use and allows you to set up the whole system and then walk away. It has an electronic autostart ignition, which means you don’t even have to start a fire. Just plug it in, do a little prep work, add some pellets, and it will not be long before you have some delicious food to enjoy with your family or serve to your friends.
Whether you enjoy smoking, or if grilling is your passion, the Camp Chef® SmokePro Deluxe helps create the perfect meal! From the backyard to the campsite, this pellet grill and smoker cooks up your favorite dish. Durable and heavy-duty, this smoker/grill boasts outstanding temperature sensor gauges to eliminate the guessing associated with smoking. The SmokePro provides internal cooking temps and internal food temps for delicious results.
Temperature range is an important factor. What you’ll need will depend on what kind of cooking you want to do. Top pellet grills can hit temperatures between 180 F to 425 F, enough for baking, smoking, roasting, and grilling. On the other hand, ioif you want to sear meat you need something that reaches the 500-550 F range. A functioning thermometer is a must. You’ll need a precise and accurate reading so you’ll know you’re cooking your meat at the right temperature.
Vista Outdoor is a leading global designer, manufacturer and marketer of consumer products in the growing outdoor sports and recreation markets. The company operates in two segments, Shooting Sports and Outdoor Products, and has a portfolio of well-recognized brands that provides consumers with a wide range of performance-driven, high-quality and innovative products for individual outdoor recreational pursuits. Vista Outdoor products are sold at leading retailers and distributors across North America and worldwide. Vista Outdoor is headquartered in Utah and has manufacturing operations and facilities in 13 U.S. States, Canada, Mexico and Puerto Rico along with international customer service, sales and sourcing operations in Asia, Australia, Canada, Europe and New Zealand. For news and information, visit www.vistaoutdoor.com or follow us on Twitter @VistaOutdoorInc and Facebook at www.facebook.com/vistaoutdoor.
REC TEC Grills was born in Augusta, Georgia in 2009 by lifelong friends Ray Carnes and Ron Cundy. The pair made it their commitment to build high quality grills and sell them at reasonable prices. But that was only the beginning of their story. The rest of the promise was to treat everyone like family and provide them with world-class customer service. With those two fundamentals in place, the REC TEC Family was born and the REC TEC Lifestyle started to flourish. Your feedback as members of the REC TEC Family and your living the REC TEC Lifestyle has helped this family grow and become that special bond that binds us all together. Thank you to all of our current and future REC TEC Family members. It just would not be the same without you all.
Kevin- super helpful article. Thanks! I just moved from a big city small apartment with no grill to a house in the country. Most essential purchase is the grill. I’m really on the fence. I like the idea of a pellet grill, but in reality- I’m mostly cooking burgers, fish, steaks, scallops, and veggies. The brisket and ribs will be more of a special occasion. From an economical perspective, am I better buying a gas grill and just getting one of those smoke tubes to add some flavor? From many of the online comments, it seems like the pellet grills benefit from additional smoke anyway, and though you can get additional grates for searing, seems like a square peg in a round hole. The gas grill is sort of the tried and true, and way more economical. Those $500 entry level pellet grills seem a little scrawny, and the next level up is a cool $grand. I’m really on the fence, and getting pressure to “just buy the darn thing” to consummate the move to the country! However the pellet grills seem like the new shiny object and have my curiosity. Any advice? PS- love the website! Thanks, Cary
Words like Grilling, Barbecuing and Smoking are often used interchangeably by us. However, when looking at them from a grill master’s point of view, there are some subtle methodological differences among these three: One is done with the lid up, BBQ is done in a closed circulation with the lid down, and smoking is a slow cooking process in a closed circulation.
Now, what that means is that if you have a lower hopper capacity, your pellet smoker will run for a smaller period of time. It also depends on the cooking temperature you have selected for your cooking purposes. However, at higher temperatures, they will provide less smoke; thus would be more suitable for grilling and barbecuing, but not so much for smoking.
Perfect for traveling and tailgating, or even just a smaller patio space, the Traeger Junior Elite 20 is small in size, but delivers big wood-fired barbecue taste. Impress your friends by grilling, smoking, roasting, baking, braising, or BBQing at any tailgate or outdoor activity. The integrated Digital Elite Controller keeps temps within +/- 20 degrees F and makes setting the grill temperature as easy as turning a dial.
Although these are marketed as grills, they do much more, including baking or roasting. Because they heat by convection, you might not get the grill marks that a gas or charcoal grill will give you, but you also won’t have the flame-up problems. While many pellet grills offer high cooking temperatures, the maximum depends on ambient temperature and wind. Many users wrap their grills in special insulating covers to help maintain heat, reduce fuel use, and reach the higher temperatures they desire.