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 bought this directly from Traeger. Beware that this model is now discontinued. They replaced it with the Traeger Renegade Pro without notice. The new model has an updated saw horse design and a new digital controller with probes. It does not come with the handy spice rack however. To each their own but I'd check with Traeger prior to purchase. That said, I paid more from them so if this is discounted, grab it. I love mine!
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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.
Wood pellet grills look like standard barbecue grills but some with a separate firebox for making smoked meats that will also let you smoke vegetables and other ingredients. As Traeger and Pit Boss both get good reviews from customers, it’s important that you look at the top features of this grills and how each company compares in relation to those features.
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.