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.
Whether you enjoy smoking, or if grilling is your passion, the Camp Chef® SmokePro Deluxe helps create the perfect meal! From the backyard to the campsite, this pellet grill and smoker cooks up your favorite dish. Durable and heavy-duty, this smoker/grill boasts outstanding temperature sensor gauges to eliminate the guessing associated with smoking. The SmokePro provides internal cooking temps and internal food temps for delicious results.
The “Smart Smoke” controller goes from 160-450F, with an internal sensor and electric auger maintaining that heat. The hopper holds a good 20lbs of pellet - enough for 10-20 hours of smoking. And it’s built from a sturdy stainless steel that feels solid and looks fantastic, with locking caster wheels keeping it secure while in use. It’s also backed up by a 3-year warranty.
Revising Product review to include photos! Excellent size and performs better than hoped for. Doe great job of smoking meats. Did a 12hr Pork Butt last weekend, tasty. Ran into a snag lately with the smoke stack though. Installed a aluminum patio cover over our deck $5,000. Now when I use my Traeger, the smoke has only a few feet to rise due to new roof over it. If windy, smoke billows in circles, trying to escape. And smoke will race into sliding door when opened. Experimented and came up with cure that works 100% excellent! Home Depot for 25ft roll of 6" Flexible Aluminum Duct. The 6" size goes over the hat on top of Traeger stack, pull down a few inches, wrap aluminum foil around bottom to seal. Other end over end of deck rail. Tried to keep as straight as possible, then trimmed to fit when expanded. Works like a charm and solved problem. Now smoke goes out end of 8ft long alum tube and out from under roofline, up into the air. No more smoke trapped under deck. With the flex alum tube, I can place it on East, West or North deck rails for smoke direction. Just thought I would pass this along as it did not effect the Traeger at all. Actually most likely helps with keeping air draft from entering thru smoke stack.
But even with their indirect heat, wood pellets do something gas can’t; they give your meat that natural, smoky flavor you expect from wood. They don’t create as much smoke as wood or charcoal, so the flavor is not as intense, you swap that intensity for convenient cooking. The smoke they do create is clean and easy to control. And the hotter you burn pellets, the cleaner they burn, letting you crank up the heat when you don’t need smoke.
Editor-in-Chief Sean McCoy is a life-long outdoorsman who grew up hunting and fishing central Wisconsin forests and lakes. He joined GearJunkie after a 10-year stint as a newspaperman in the Caribbean, where he learned sailing and wooden-boat repair. Based in GearJunkie's Denver office, McCoy is an avid trail runner, camper, hunter, angler, mountain biker, skier, and beer tester.
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.
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