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.
I have used this cooker at least once a week for two years. I recently had a couple of issues with it going out and was thinking it was having a serious issue. Quite frankly as much as I use it it should be worn out by now. Here is what I discovered. Carbon had built up on the tempeture probe and the grill wasn't getting accurate readings. Suspecting the temp probe I checked it with an external one and it was off 50 degrees or more. I am assuming that the readings were off enough that the grill controller just shut it off kind of a fail safe? 30 seconds with steel wool and we are back in business.
Customer Service: I spoke with customer service department about 10 times during this process, and every time I emailed or called I received a different person in response to my same issue. This did not feel good as I never got past the ground level in service even asking for upper management. After the initial response to the dented barrel I received a month back order request for a replacement. After this no offer was made to remedy the situation meaning no refund, or any extras were given as a sorry. I had to contact 3 more times (with three different people) asking for upper management before they agreed on making up for the situation. I ended up receiving for "free" a folding front tray. A month and week later I received my replacement barrel only with no lid, and then a week and half later received the lid.
I don’t know how many meals I cooked on that thing, but it’s been enough to make me a hero and de facto camp chef among my friends. I seared up a tri tip large enough to feed four hungry kayaking buddies at the Salmon River Festival one year, then covered it with foil and cooked it on indirect heat for one of the best steaks of my life, which we happily consumed in the middle of nowhere. The grill also perfectly charred onions and peppers to deliver a mountain of chicken and beef fajitas to a crowd of ten. I still get compliments on that one.
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But if you like the idea of a wood pellet grill, one of the oldest names in wood pellet grilling is Traeger, which developed some of the first units to use this technique three decades ago. Having that name recognition gives Traeger a leg up versus some of its competitors. And for the most part, Traeger’s grills live up to what consumers expect from this established brand, providing good design and longevity. They don’t typically match up with the higher end models currently on the market in terms of precise cooking temperatures, but Traeger is a nice mid-range product with several price points available.
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The 36 in. Wide Body LP Gas Smoker The 36 in. Wide Body LP Gas Smoker from Dyna-Glo is the perfect solution for year-round backyard cooking. The dual cast iron burners provide 20 000 total BTUs for reliable cooking performance in any weather while the pre-installed door seals help retain heat and minimize smoke loss for improved cooking ... More + Product Details Close
This cooker is still the best value for the dollar for pellet grills I have been looking again for a larger rig, but haven't found one better. If you are looking for an entry level pellet grill this is the one you want. Don't be discouraged by the reviews that talk about leaking smoke or not sealing well because it does leak smoke everywhere. Look at the pic I attached to my review you can see it for yourself it does, but isn't it silly to buy a smoker that doesn't smoke. If you ever go to a BBQ competition you will see most of their smokers leak smoke also.
Pellet grills come in many different sizes with a variety of features. To take the top spot among pellet grills, the Camp Chef SmokePro DLX Grill offers the best combination of grilling space, heat control, and easy-to-achieve flavors that will create tasty meats time and time again. The grill makes cooking with pellets quick, easy, and enjoyable no matter how much skill you have on the grate.