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.
You prefer a direct heat method of grilling: The Traeger grill uses an indirect heating source, much like an oven, so you won’t be able to sear meat, as many people like to do when grilling a steak. The Traeger system is better for those people seeking more of a smoker type of cooking system, although you can sear your meat by using a frying pan with a little oil initially before you finish cooking it with the Traeger grill. You can use the frying pan on a stove top burner or on the surface of the Traeger grill.
You like the idea of cooking different types of foods on the grill: If you’re someone who wants to grill food other than meat, the Traeger grilling system gives you this option. With the precise temperature control of the Traeger, cooking things like fruit pies can be a successful endeavor, something you wouldn’t dare try with a propane-fired grill.
The SG and ZG are not exactly the same though. Just from the pictures I can see that the bases are different. The SG has L-shaped legs and a bottom shelf while the ZG has square legs that are larger than the DLX legs but no bottom shelf. There were also different specs for many features. I took a picture of the ZG spec sheet at the store and compared it to the SG specs on the website and there are slight differences in capacities. For example ZG 3778 cubic inch - SG 4859, grilling area ZG 776- SG 811, hopper volume ZG 18 lbs - SG 22, ...
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.