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.
To see if ShippingPass is right for you, try a 30-day free trial. Also, with ShippingPass, there is no need to worry about commitment. If you decide you want to discontinue the service, you can cancel your subscription at any time. No matter what your shipping needs, Walmart's got you covered. Sign up for ShippingPass so you can shop more, save money and live better.
Craft amazing wood-fired creations with the Traeger Lil' Tex Elite 22 pellet grill. From grilled steak, to smoked ribs, and even a freshly baked apple pie, the set it and forget it ease of use allows any home chef to cook it all. Swap the gas and charcoal barbecue for 100% pure hardwood pellet flavor and grill, smoke, bbq, bake, roast, or braise a masterpeice.
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.
*Big R strives for accuracy in our advertising, but errors in pricing, photography, and/or description may occur. Big R reserves the right to correct any such errors. Photography is for illustration purposes only and may not reflect actual product. Big R reserves the right to limit quantities ordered and the right to accept or decline any E-Commerce order.
Although these are marketed as grills, they do much more, including baking or roasting. Because they heat by convection, you might not get the grill marks that a gas or charcoal grill will give you, but you also won’t have the flame-up problems. While many pellet grills offer high cooking temperatures, the maximum depends on ambient temperature and wind. Many users wrap their grills in special insulating covers to help maintain heat, reduce fuel use, and reach the higher temperatures they desire.
×