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.
In 2010, I sprung for a discounted Rainer with $80 in tip money and a pro deal through the whitewater rafting company I worked for. It was an expensive purchase for me at a time when my monthly food budget was around $60. But hey, along with a Roll-a-Table, two chairs I “borrowed” from the rafting company, and my cooler, I had almost a full kitchen that I could deploy from the back of my truck. And the Rainier quickly proved a wise investment.
The digital controller controls temperatures from 150F to 500F in 5-degree increments; that’s the most precise we’ve found on a pellet grill, and gives you a good, precise burn. There’s also Sense-Mate, a thermal sensor that monitors the smoker’s internal temperature, so you can keep an eye on it remotely on your phone via Wifi, letting you adjust the temperature from the app.
I have a Traeger Texas 34 Grill I purchased in January. It worked well for a short stint (1 or 2 sessions) and now will not get to the desired heating temperature, above 400. I have called Traeger and they have sent me multiple parts (2 new controllers/probes/fans) to replace in it, on my own time. Still not working. Upon calling them they said they could not send me a new grill because I purchased from Amazon. They said I needed to contact them. A $900 investment is essentially useless now. DO NOT BUY THIS PRODUCT.
160ºF up to 500ºF temperature range for slow smoking to grill (25,000 BTU). Stainless Steel meat probe measures internal food temperature. Simple Ash Cleanout System (patented).Smart Smoke Technology. Stainless Steel fire box. Digital controller automatically maintains cooking temperature. Grease Management System. Blue LED digital temperature display..Bottom utility rack. Large, heavy wire grilling area dimensions: 19.5" x 22". Included warming rack provides (570 sq. in. total cooking surface).
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You are worried about flare-ups: When grilling fatty types of meat on a propane grill, you run the risk of having flare-ups, where the flame gets too high and too hot, burning the meat. You have to keep a close eye on the propane grill to guard against them. But with the Traeger grilling system, the even distribution of the heat and the indirect heating system prevent this problem.
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I watched the Traeger infomercial on T.V. Seemed easy enough. Ha! QVC ran a similar infomercial on their channel, seemed really easy. Ha! Like a fool and his money are soon departed, I jumped in and bought one. When it came in the mail, I started to assemble it. What a joke! No instructions came with it to tell me where the nuts and screws went. Called the manufacturer. The lady said they had many complaints with the QVC orders, she would email me a copy of the instructions. Well I finally put it together. Performed the (curing and start up method). Bought a nice pork shoulder and started grilling. It is interesting that both infomercials say set the temp and WALK AWAY!!! What a joke, I sat and watched the grill like a hawk for 3 hours, everything was good. I figured I would go eat lunch, ha! What a mistake. When I came back (20 min.) the grill had turned itself off and had an error on the screen.