Built from substantial stainless steel, the SmokePro looks bombproof and weighs a hefty 140 lbs – so it’s not portable like the Z Grills or Traeger Junior Elite. It has a stainless-steel probe to directly monitor meat, and a sensor for the grill’s internal temperature. Both read out on the LED display next to the digital controller, which goes from 160F to 500F in 25-degree increments.
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.
CAMP CHEF: for over 25 years Camp Chef has been making quality cooking gear for all of your outdoor cooking needs. Our products include Outdoor Cookers, Emergency preparedness stoves, Pellet Grills, Smokers, Pizza Ovens, Cast Iron Dutch Ovens, Flat Top Grills, Griddles, Fire Pits, Outdoor Movie Screens, and many more. Camping, Catering, Tailgating, Hunting, Dutch Oven cooking or even just on your deck at home. Cooking is our passion.
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.