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 your question regarding Traeger, I’ve not reviewed their grills of yet. I do know that Traeger as a company is taking steps to up their game some, as quality/reliability of their pellet grills has diminished over the last few years. The new CEO – Jeremy Andrus – they hired comes from the Skull Candy company and brought that headphone company from annual sales from less than $1 million to nearly $300 million. I know also that a few big hitters in the BBQ world are being contacted by Traeger to bring the brand back to its former prominence. You can read more about that here from the site of one of the company’s that now has an ownership interest in Traeger: http://www.trilantic.com/News_Story.aspx?StoryType=1&ID=56.
Yoder's Variable Displacement Damper is another unique feature: Essentially, it's a metal plate that may be moved from left to right along the lower smoke box. Positioned all the way left, it concentrates heat directly over the fire pot for conductive searing with optional aluminum GrillGrates. Move it back to the right for even heat across the entire smoke box. Yoders are sold primarily through independent retailers.
I've been wanting a Yoder for the last year and a half. Finally pulled the trigger on a 640 a couple months ago. Absolutely fantastic. I've been a Weber guy forever and this is my first smoker. This defiantly took my food over the top. My 640 has been incredibly accurate with keeping the heat on the grate to the setting I punch in. Just finished my first brisket and it was fantastic. The only way to go!
Similarly, online retailers like Amazon add to the cost of your products as well. When you order from Amazon the manufacturer has to pay a hefty fee to Amazon, even if the manufacturer of your grill ships it to you directly from their factory. So, while the grill may ship to you directly, Amazon usually takes around 15% of the total price, meaning that the manufacturer has to factor that cost into their margin as well.
Cleaning up after grilling is every cook’s dreaded part of the process, but this pellet grill simplifies that. Its warming rack comes with a patented ash-catcher system, the Ash Can Cleanout System, that allows for an easier cleanup of the unit. Additionally, it also features a grease drip disposal system that comes with a bucket. You won’t have to waste precious time cleaning up afterward!
Most old-timers will tell you that a buildup of soot and grease will improve the taste of your food. This does not prove true, in fact, it’s not good for you and can even be dangerous. At Grills Forever we want your grilling experience to be the best and safe. Therefore, before any cooking session, always clean your grill to optimize its performance and prevent any off-flavors. Check the grease pans or collectors before smoking because the collector could be full and overflow, starting a fire. If there is a grease chute then clean it for sure.