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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.
12 Month Financing: For a limited time, purchase $599 or more using the Amazon.com Store Card and pay no interest for 12 months on your entire order if paid in full in 12 months. Interest will be charged to your account from the purchase date if the promotional balance is not paid in full within 12 months. Minimum monthly payments required. Subject to credit approval. Apply now.
The smoker does not hold temperature. I called the service dept and they sent a new controller card and it does not hold temp either. When I contacted the service dept they told me that the grills do not hold temp at the 225 degree setting. If you look at all the Traeger literature and cookbook and recipes all say to smoke at 225. As does every other smoking cookbook. So Traeger manufactures and sells a known defective product. DO NOT BUY TRAEGER.
I purchased my first Traeger Grills over a year and a half ago and now I am on my third grill. I have had the most amazing experience grilling, smoking and baking. I do everything on my Traeger. It accurately holds the temperature, starts up automatically and has convection which cooks my food evenly and thoroughly. I recommend this grill to anybody who’s looking for a amazing cooking experience with little effort and really likes to show off to their friends how good their food tastes. My favorite part is being able to walk away from the grill and not have to babysit it so I can do overnight briskets without even checking them. I love it.
My brother said his Traeger blanket saved pellets in cold weather, so after talking to him I decided to order one. Used it for the first time today. The blanket went on easily & fit the grill perfectly. The temps this a.m. was below 0 when the meat started smoking. So far so good! The grill hasn't extinguished itself, a problem we always had when cooking in the cold, the temp of the grill is cooking like it does in the summer, & the meat is smoking beautifully. If you Traeger in cold winters this accessory is a must have!
"I'm just an average guy that ended up liking to cook and had a bunch of cool jobs", uttered Cee Dub as he reminisced on how he came to be a pioneer in modern day cast iron cooking. And cook he did—Cee Dub's first taste of the timeless cookware dates back to the 1950's. A couple loyal pups, a few trusty steeds, and decades of wisdom later—Cee Dub shares his wealth of knowledge in this Camp Chef Story.
With 440 square inches of cooking space, an auger-fed pellet delivery system, and a digital LED thermostat and controller, your cooking will be simple, whether it’s burgers, a whole turkey, or racks of ribs. The side shelf is a convenient place for cooking tools or plates while the bottom shelf can hold spare bags of pellets or jugs of sauces out of the way.