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.
The Texas Trio is a versatile grill that The Texas Trio is a versatile grill that lets you choose between charcoal propane gas grilling or classic style smoking with the included side firebox. This rugged yet attractive grill also features a warming plate and large underneath storage. With 1 394 in. of total cooking area heavy-duty steel construction ... More + Product Details Close
I think a lot of reviewers here don't have enough experience in pellet grilling to recognize how many features are packed into this unit for the money. I'm not going to talk about the usual advantages of pellet grilling in general in this review (i.e., clean flavor, "set and forget", less ash,). Instead, I'm going to focus on what makes this one uniquely better than the other grills in it's class.
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.
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.