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.
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.
While the exterior is certainly whimsical, this smoker is serious business, with a proprietary Digital Pro Controller that maintains even cooking temperature, just like an oven. Dual meat probes let you monitor the pork and the chicken at the same time, and 425 square inches of grilling space means you can easily feed a crowd. The 11.5-pound hopper holds plenty of pellets, so you won’t need to refill for many hours.
I remember a time when I was going through some quad-bike reviews; it was all so confusing and I had no clue whom to believe and whom not to. Even when I eventually decided to put my faith in one of them, I kept having second thoughts regarding whether or not they would fail me. If you’re someone like me, let me give you four reasons our reviews won’t fail you:
OK. I’m rambling a bit. To your point regarding Traeger. I think that the models you can buy at big box stores (Costco etc) are OK. I still hear a few complaints about blistering paint etc. But… their Pro Series Models are a different story. The new management at Traeger has come a long way in their efforts to reaffirm the Traeger brand as a legitimate BBQ Pellet Smoker brand that everyone from the backyarder to competition pitmasters can get behind. To that end, they only allow specialty retailers carry the Pro Series models, which are built with a bit more heft and better PID controls, electronics, etc. You can find these at Ace Hardware stores, places like the Whiskey Bent BBQ Supply store we have here in Lakeland, FL (there is now one in Odessa, FL) as well. You can find a Traeger Pro model by going to http://www.traegergrills.com/dealers.
Thank you so much for this very informative post!! My husband and I just bought the Traeger Select Elite Pellet Grill On Cart yesterday as a somewhat impulsive buy on a Costco shopping trip. It was the last day in the road show so I figured we could always return it if we have buyer’s remorse. Having no past experience with pellet smokers/grills, I am doing my due diligence in researching the reputation of this company and comparing to others in the market. The selling point for us with this particular Traeger grill was the ability to convert this to a built in unit by simply taking off the right side shelf. The sales rep at Costco had a picture of one that his parents had built into an attractive brick surround and we liked the option, however, after reading your post and several other sites, I am finding that Traeger may not be the best investment comparatively and with a purchase this expensive, long-term quality is extremely important to us. In staying within the same price range, I am very interested in the Rec-Tec and it’s stainless steel build. My question is, do you know if the Rec-Tec or another pellet grill @ the $1000 price point can be made to look “built-in” and if so, are there any dangers or potential problems with this.
Hey Drew – thank you for your comment. All told, most pellet grills are going to average about 1.2 to 1.5 lbs per hour. of pellets per hour at 225, and closer to 1.75 lbs. as you get up to 275. It’s tough to gauge, which is why you are probably seeing different figures across the web. Ambient temperature and pellet composition play a role as well as grill temp. Sorry I don’t have better information for you.
Travelers: Hey travelers, we haven’t forgotten about making your life easier. Have you ever tried smoked rabbit while jungle camping? If so, then you know the thrill and enjoyment in it, but you probably wouldn’t go through the hassle of taking a smoker in the jungle. Wait a minute mate, I recommend the top pellet smoker grills for a successful camping adventure with friends or family. I cannot count how many times we have done seen the advantages of this. It makes for an awesome experience every time. We recommend pellet smokers because of the lightweight and easy to shift aspects. It can fit easily in your car, which makes it the travelers dream.
And of course, it’s definitely a plus when the company that makes your grill includes a multi-year warranty and top notch customer service. Pellet grills are finicky compared to gas or charcoal grills simply because there are so many more parts that require electronics or that have electrical components… which means there is a fair bit more that can actually go wrong or require service at some point.
Am considering adding a pellet grill to my fleet, have champagne taste on a beer budget. Have a smoke hollow smoker (lp) that works awesome, a cheap charbroil gril, and a holland I picked up used. Tried the holland because I got tired of flareups but it is slow, a coffee can over the stacks until it warms up helps but you don’t want to walk away from it that way. I like the idea of something you don’t have to baby sit. Any reviews on the traeger grills? I like the looks of the traeger jr, has nice features, portable and enough room for most of the things I want. Also are these grills affected by wind and do they work in cold weather? I live in ND and like to use them in the winter as long as the temp is above 10 degrees or so.
I am currently using a Bradley Smoker, which is basically an electric oven with a smoke generator that makes tons of smoke, using special Bradley Smoker pucks (of compressed saw dust). A tall cylinder hold a stack of pucks, and the smoke generator pops a new puck into the oven every 20 minutes or so (when the pucks are about 80% burned). Managing temps is not as difficult as a stick burner, but nothing like advertised with these pellet burners (like the Rec Tec).
I don’t know how many meals I cooked on that thing, but it’s been enough to make me a hero and de facto camp chef among my friends. I seared up a tri tip large enough to feed four hungry kayaking buddies at the Salmon River Festival one year, then covered it with foil and cooked it on indirect heat for one of the best steaks of my life, which we happily consumed in the middle of nowhere. The grill also perfectly charred onions and peppers to deliver a mountain of chicken and beef fajitas to a crowd of ten. I still get compliments on that one.
Pellet grills have electronic temperature controls that (should) keep the heat consistent. Top quality pellet grills can maintain temperatures within 5 degrees or less for hours at a time, with the auger releasing pellets as needed into the fire box to do so. A consistent temperature means less guess work and fantastic food! (If you read words like “heat zones” or “baffle”, that means that you’ll need to be playing with the heat to keep it consistent… so steer clear of those!)
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Hi Brad! Thanks for your comment. I’d give Grilla Grills a hard look. Their Silverbac model is as solid as they come. The sear box on the Camp Chef is an interesting addition. Given that it’s propane powered, it would be pretty much light, turn and go. So, as you said, low maintenance. Still… with a set of grill grates, you should be able to get a sear at top temps on most pellet grills that would meet your expectations.
With over 375 reviews, this product had an impressive review rate. On its first 22 days, it got its first 10 positive reviews. Ten days after, it got its 2nd set of 10 positive reviews, and its 3rd set of 10 positive reviews after seventeen days. Online reviews have shown that, just like us, customers have been satisfied with the overall performance of this smoker from Traeger.
Hi i would like to buy my boyfriend a good quality smoker but can’t seem to find one that’s small for people just starting out with smoking for our small backyard. Does anyone have any suggestions? I don’t want to invest too much to start incase it’s too difficult to use or we find we don’t like it. I’ve read some reviews on little smokers that catch on fire and that worries me since we live in a townhouse. I figured someone on here would know of a well made brand that is on the smaller/less expensive side.
I'm using a ThermoWorks "Smoke" thermometer to send smoker temp info while I'm busy doing other things. So much easier to set it and not having to worry about it compared to grilling over charcoal (although I still like to do that for high temp California "BBQ"). Just come back when it's close to being done to give a quick visual check compared to the probe temperature. May consider adding the sear box in the future.
Is it food quality? All of my foods are the best I have ever grilled. The ribs are nearly falling off of the bone, yet still moist! In the past, if I tried to get them to that point, they would have been very dry. All of my meats have been moist with a lightly smoked flavor. My breads perfectly crusted on the outside, moist inside with a perfect crust!
Once you start paying more than $500, you’re looking at a big boy professional level machine. It’s going to be big enough that you don’t have to worry about having the neighbours over as well as the family. You’re also looking at more expensive sensors and thermostats, so you get a more consistent temperature, which leads to a much better end result, and there’s generally some sort of cleaning assist built in, which makes cleanup and putting it away at night so much easier.
There is no party like a backyard grill and BBQ party on a hot summer weekend with some good music on the back, and of course the centerpiece: the food. You see, food is a universal language. It is a way to say how much you appreciate and care for one another; a way to people’s hearts. And there is nothing more comfortable, warm and heart than some good old open grill and BBQ cooking on your pellet grill. And this is the reason you need an expert pellet grill review.
With a temperature probe for the meat inside the chamber, this allows you to keep an eye on the temperature of your meat without opening the grill. Nothing ruins a brisket or roast faster than the griller who constantly fiddles with the meat on the grill. Opening the chamber lets the heat out and that can quickly make for some tough meat. This handy feature takes the guesswork out of how ready your meal is, helping you get the best outcome.
The Camp Chef Wireless Food Thermometer works very well with Dutch ovens, smokers and grills. The wireless food thermometer featur...es a 100-foot wireless range, an elapsed cooking time feature, and a stainless steel probe with a 48-inch lead. It is an excellent accessory for entertaining, because it allows you to monitor the temperature of your food without leaving your guests. This Camp Chef Wireless Food Thermometer is a compact and simple-to-use device. The wire and probe are both rated for over 475¿¿F, and the base is equipped with an LED light in the front for easy viewing. The Camp Chef wireless thermometer provides suggested cooking temperatures for six types of meat, and offers four distinct taste settings. read more
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.