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.
I have used this cooker at least once a week for two years. I recently had a couple of issues with it going out and was thinking it was having a serious issue. Quite frankly as much as I use it it should be worn out by now. Here is what I discovered. Carbon had built up on the tempeture probe and the grill wasn't getting accurate readings. Suspecting the temp probe I checked it with an external one and it was off 50 degrees or more. I am assuming that the readings were off enough that the grill controller just shut it off kind of a fail safe? 30 seconds with steel wool and we are back in business.
The old camp chef is heading to a new home. We have been thru thick and thin, rain, or snow, on two ocations high wind blew it off the patio. A few dents bad scratches but it still works like a top. My son is driving in form North Carolina to take it off my hands this weekend it has been replaced by a yoder ys-640. The yoder is bigger and heavier with more btu output if needed. But the camp chef still is easier to clean out and cooks a fine brisket.
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.
The Rainier is also hearty as hell. It survived banging around in the bed of my truck for four years. And I didn’t exactly baby it, cramming it into the limited storage space in my truck with paddles, helmets, and all manner of gear. But I never worried that it wouldn’t fire up to cook another meal. Once, one of the stubby rubber legs popped off as I was pulling the Rainier out of my truck. The stove sat crooked for a weekend, but I eventually found the leg and simply screwed it back on.
Main Problem (Product): Main Barrel arrived damaged (bent inward on one end where the open area is located), and the replacement was sent a month and a half later since my purchase. Its an 80 lb. box, with little padding, and all of the components are placed loosely in the barrel. The small tack welds inside for the trip tray arrived broken. (One person struggles with this big heavy box) They would do better by placing more cushion for shipping.
Capacity Just like with other grills, cooking capacity is an important consideration. Will you only be using the grill for family dinners, or will you be hosting backyard parties where you’ll need to feed a crowd? While pellet grills cook food quickly, you don’t want to make your guests wait in line while you’re putting the second wave of burgers on the grill.