Bought the Costco trade show model after about 4 years of debating the purchase... OK, first one broke on day one as "auger" stopped spinning. Returned and received a new unit. 2nd one smoked a turkey for 4.5 hours. After 4 hours temp. dropped to 100 degrees and it was set to 350. When I opened the smoker to check on why this happened, it exploded into a ball of flames! There was fire shooting out from all sides of the grill and smoke and heat coming from the feeder side of the grill... This was SCARY and could have absolutely caused a major fire, and/or injury!!!
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.
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.
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