You need some temperature control in your grilling system: Even though most propane and charcoal grills include a temperature gauge, they’re not precise. Because the pellet Traeger grill works more like an oven, cooking at a precise temperature setting is a lot easier to do. It’s not quite as precise as the oven in your kitchen, but the Traeger system’s temperature control is surprisingly accurate most of the time. Some manufacturers of low cost pellet grills only offer low, medium, or high temperature settings.
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.
****Update 12/2014: So I finally found something negative to report. Today I was cooking 2 pork butts and a brisket and discovered that this grill does not do well with wind on a brisk day (It was 45 degrees here today). When set at 250 degree, the smoker could barely make it up to 190 degrees. I was able to bypass the problem by throwing a cheap moving blanket over the grill (an $8 fix) but I think it's worth noting.
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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. Our patented Ash Can Cleanout System makes clean up the easiest out there. 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.
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"The Camp Chef transaction aligns with Vista Outdoor's strategy to deliver long-term value through acquiring complementary, market-leading brands that will benefit from Vista Outdoor's balance sheet, distribution network, and sales and marketing expertise," said Chairman and Chief Executive Officer Mark DeYoung. "Led by an entrepreneurial management team, Camp Chef has a nimble and responsive product development process. Camp Chef continues to grow its market share in the outdoor cooking category, and the brand serves many of our current consumers who are engaged in a wide variety of outdoor pursuits. Acquiring Camp Chef strengthens our leadership position in outdoor recreation, allows us to enter the growing camping and outdoor cooking market, and the brand's effective multi-product, multi-channel strategy increases our presence across both brick-and-mortar and ecommerce distribution platforms."
Spent thousands on Traeger, they are ok. Wouldn’t have an issue if they were only $500. But the last one I bought, (Timberline 850) cost $2500 Canadian. Almost burnt my house down because it got over 600F and was still climbing. All Traeger does is mail you more Chinese parts to fix your China made grill. By the end of it you will know your Traeger in and out because you WILL have to take it apart to repair! Overpriced for a smoker with many issues. Timberline lower grill has a portion of the grill removed for some kind of design. They added a 1/4 lip to justify this Grand Canyon of a hole in the back of the grill. Well needless to say if you cook wings or something small and toss them around you will for sure lose the wings to this big stupid hole. But they said they pit the little lip to stop the food from falling... Do they not test these products?
With 341 square inches of cooking space and a digital control board that sets the temperature from 180 to 500 degrees, you’ll be cooking whole meals in this grill, even though it’s the smallest model that Pit Boss makes. It will hold up to a dozen burgers for parties, or a chicken and vegetables for the family dinner. When cooking is done, the porcelain coated grill grates are easy to clean.