Take your outdoor cooking to the next level with the Camp Chef Pellet Grill and Smoker. Designed with the home griller in mind, built-in features simplify the process of smoking. The included digital temperature readout takes the guesswork out of the cooking process. An advanced digital temperature chip gives a more steady smoke and temperature, eliminating large temperature swings and giving a more consistent cooking temperature. The Pellet Grill and Smoker features range from innovative digital smoker controls to dual temperature sensors. Discover the real secret of award winning BBQ cooks, low and slow smoking.
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.
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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.
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