"Camp Chef is excited to join the exceptional family of Vista Outdoor brands," said Ty Measom, Camp Chef President. "The opportunity to be part of this dynamic company will provide for the future growth and success of Camp Chef as a leader in our market. The hard work and dedication of Camp Chef employees, past and present, has made Camp Chef what it is today. We look forward to the opportunities ahead."
Compared with charcoal and other wood-fired grills, pellet smokers are simpler and cleaner and easier, giving more control than traditional smokers. Wood pellets are dense, burn hot and smooth, and can be easily fed into the flame with an automatic auger, allowing for consistent temperature with minimal effort. Many modern smokers let you practically set it and forget it, thanks to their digital controllers. Pellet grills are also efficiently cheap, often using as little as 1lb of pellets an hour.
I have always been a believer: “do what you love and you’ll never work a day in your life”. I’ve been lucky enough to use my professional experience in the meat industry over the past 20 years to create a business where I love to go to work. Smoking Meat Geeks is all about bringing people together that enjoy food as much as I do. We provide a place for everyone to share thoughts, ideas, and recipes; to be a go-to spot for cooking inspiration. Feel free to leave a comment, say hello, or provide any tips. There is no right or wrong input, as long as you’re engaging, you’re a Meat Geek!
Traeger's, unlike other models, have a temperature probe, these sensors tell it if the temperature is too low and automatically feeds more pellets to the fire. You can set up the temperature in 5-degree increments. Other brands and cheaper versions only offer three settings low, medium and high. There is no sensor to monitor the temperature. If you are purchasing a pellet grill it is because you can set it and forget it. If you plan to hoover then it makes more sense to use a standard smoker or to transform your grill into a smoker.
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.
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.
Pellet grills preheat quickly, so you can start cooking almost immediately, and the pellets are available in a number of woods, for different smoke flavors. The smoke has a subtle wood-fired flavor with less of the acrid flavor that comes from standard wood or charcoal. For the maximum smoke flavor, it’s best to cook at a temperature lower than 250 degrees, while higher temperatures cook faster with less smoke.