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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 want longevity in a pellet grill: As the Traeger brand name has been around for a few decades, you can have some peace of mind that you’re purchasing a grill that should have replacement parts available for the foreseeable future. And Traeger grills tend to have good longevity ratings, working in top condition for several years, as long as you follow the manufacturer’s maintenance recommendations.
While many people enjoy pellet grills, some find it difficult to use pellets to produce true, flavorful steaks and barbecue since the fuel often lacks the same flavors as traditional grills. That smoky, wood flavor many steaks have is not impossible to get with the right pellet grill however. The Z Grills Wood Pellet Grill sports a combined grill/smoker setup with temperature control for the best pellet grilling experience available.
Although our testers thought this grill was a bit heavy, they loved its small footprint and still found it to be very portable: “It’s a great size and convenient to bring in an RV or SUV for tailgating and grilling on the go,” reported one reviewer. Our testers were also pleased with how easily you could control the grill’s heat from its corresponding smartphone app. The only real downside? The instructions were a little unclear, according to one of our reviewers.
Editor-in-Chief Sean McCoy is a life-long outdoorsman who grew up hunting and fishing central Wisconsin forests and lakes. He joined GearJunkie after a 10-year stint as a newspaperman in the Caribbean, where he learned sailing and wooden-boat repair. Based in GearJunkie's Denver office, McCoy is an avid trail runner, camper, hunter, angler, mountain biker, skier, and beer tester.
But if you like the idea of a wood pellet grill, one of the oldest names in wood pellet grilling is Traeger, which developed some of the first units to use this technique three decades ago. Having that name recognition gives Traeger a leg up versus some of its competitors. And for the most part, Traeger’s grills live up to what consumers expect from this established brand, providing good design and longevity. They don’t typically match up with the higher end models currently on the market in terms of precise cooking temperatures, but Traeger is a nice mid-range product with several price points available.
Still loving it after cooking about 100 meals. Thru rain, snow, and the occasional nice day it is still going. Today I'm about to grill brats. My weber grill sits around rarely needed so it's going to get sold. I discovered with quality pellets it can grill just fine to temps up to 450. The camp chef grill cover keeps the pellets dry in the hopper so I don't even take them out unless you want to change flavors. I did have to seal the hopper handle around the rivets to keep the rain out but other than that it is very tight. See the pic makes smoke like crazy.
REC TEC Grills was born in Augusta, Georgia in 2009 by lifelong friends Ray Carnes and Ron Cundy. The pair made it their commitment to build high quality grills and sell them at reasonable prices. But that was only the beginning of their story. The rest of the promise was to treat everyone like family and provide them with world-class customer service. With those two fundamentals in place, the REC TEC Family was born and the REC TEC Lifestyle started to flourish. Your feedback as members of the REC TEC Family and your living the REC TEC Lifestyle has helped this family grow and become that special bond that binds us all together. Thank you to all of our current and future REC TEC Family members. It just would not be the same without you all.
The wood pellet grill features a dual rack design with a 513 square inch main cooking surface and 187 square inch warming rack. With a 20-pound hopper capacity, the grill has plenty of space for wood pellets to keep grilling during long event and parties when you have many mouths to feed. An automatic pellet feeder makes it easy to maintain the desired temperature, so you can focus on just the grilling itself.