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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.
Our reviewers spent 12 hours testing a top-selling, budget-friendly pellet grill. To get the most comprehensive feedback possible, we had our testers take this grill for a spin and had them consider its most important features — from how much it can cook at a time to how easy it is to travel with. We've outlined the key pointers here so that you, too, know what to look for when shopping.
Vinson 300 Heavy-Duty 1.5 mm cooking chamber firebox Vinson 300 Heavy-Duty 1.5 mm cooking chamber firebox and 2.0mm lid smoking chamber engineered for optimum heat and smoke circulation 4 in. Dia chimney with adjustable rain cap maximizes draft easy cleaning ash access panel lid thermometer stainless steel handles large steel wheels lower storage shelf 33.5 in. x 18 ... More + Product Details Close
You prefer a direct heat method of grilling: The Traeger grill uses an indirect heating source, much like an oven, so you won’t be able to sear meat, as many people like to do when grilling a steak. The Traeger system is better for those people seeking more of a smoker type of cooking system, although you can sear your meat by using a frying pan with a little oil initially before you finish cooking it with the Traeger grill. You can use the frying pan on a stove top burner or on the surface of the Traeger grill.
The original Traeger Grill was invented 30 years ago and was every bit as impressive then as it is now. Although it developed a cult following, the early Traeger never grew beyond a niche product. In the past two years, however, Traeger has stepped up its game, redesigning and upgrading its grills while doing everything it can to build a buzz around its amazing do-everything cookers.
To start using the grill, pour wood pellets into a hopper (pellets are usually are made from compressed sawdust). Press the start button to ignite the pellets, which are fed into the fire box with an auger, where a controlled number of pellets are lit and burned (depending on the temperature setting selected). The auger adjusts the number of pellets entering the fire box to maintain the desired temperature.
Versus other hardwood pellet grills, Traeger represents a good value whether for a gift or for general use, although if you’re looking for a fully Made in America grill, you’ll want to consider other options. If you decide to go with Traeger, be certain you’ve thought about how much grilling area for food you’ll need and pick an adequate model, as the various Traeger grill price points depend heavily on available grilling area.
Certain statements in this press release, including statements regarding the expected future financial performance of Camp Chef and the impact of that performance on Vista Outdoor, constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The words 'believe', 'expect', 'anticipate', 'intend', 'aim', 'should' and similar expressions are intended to identify such forward-looking statements. All such forward-looking statements involve estimates and assumptions and are subject to a number of risks and uncertainties, many of which are beyond Vista Outdoor's control, which could cause actual results to differ materially from the expectations described in the forward-looking statements. Among those risks and uncertainties are: assumptions regarding demand for Camp Chef's products; the risk that the anticipated benefits and cost savings from the transaction may not be fully realized or may take longer than expected to realize; the ability of Vista Outdoor to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners of Camp Chef; costs or difficulties related to the integration of the business following completion of the transaction; and changes in the business, industry or economic conditions or competitive environment. Vista Outdoor undertakes no obligation to update any forward-looking statements. For further information on factors that could impact Vista Outdoor, and the statements contained herein, please refer to Vista Outdoor's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
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.