 | |
| Company type | Private |
|---|---|
| Industry | Home accessories |
| Founded | 1976 (1976) |
| Headquarters | , |
Key people | Robert B. Goergen Sr.(Founder, Chairman and CEO) |
| Revenue |  US$ 1.179 billion(2012)[1] |
| US$ 84.566 million(2012)[1] | |
 US$ 10.046 million(2012)[1] | |
| Total assets | US$ 321.604 million(2012)[1] |
| Total equity | US$ 58.804 million(2012)[1] |
| Owner | Carlyle Group |
Number of employees | 1,700(Dec 2012)[1] |
| Website | www |
41°01′00″N73°38′56″W / 41.01674°N 73.64890°W /41.01674; -73.64890
Blyth, Inc. is aGreenwich,Connecticut based marketing and manufacturing company that sells personal and decorative products. In 2001, it was the largest candlemaker in theUnited States. Subsidiaries include themulti-level marketing companies PartyLite andVisalus.
On May 13, 2002, Blyth announced that it has acquired all of the membership interest in CBK, Ltd., LLC, a designer and marketer of giftware and home decor, sold under the CBK brand.[2] Blyth purchased the interests in CBK for total cash consideration of approximately $49.5 million. Midwest CBK was sold to MVP Group International in 2011.[3] CBK was to remain obligated on its indebtedness, including approximately $4.8 million of long-term debt.[2]
In 2012 Blyth sold the brandSterno, which it had acquired in 1997.[4][5]
In 2015, Blyth was acquired by the private equity firmCarlyle Group.[6] Subsidiary Silver Star Brands was sold to Crosby Rock, leaving Blyth with PartyLite.[7]
In 2008 Blyth began a multi-stage takeover ofViSalus, a multi-level marketing company which sells nutritional supplements andenergy drinks.[8][9] In the first stage of the takeover Blyth purchased a 43.6%equity interest for $14.0 million.[10][11] In 2011 Blyth invested an additional $2.5 million and increasing their ownership share to 57.5%.[12]
By August 2012 Blyth owned a 73% share of Visalus and planned aspin off of the company in aninitial public offering. In September 2012,Moody's Investors Service downgraded Blyth's credit from "stable" to "negative,"[13] Blyth stated that ViSalus's growth was not properly valued, and Blyth withdrew theIPO citing uncertain market conditions.[14][15]
In September 2014, ViSalus' founders and select stockholders arranged to buy back control of the company from Blyth. Blyth remained an equity holder with 10% of ViSalus's stock.[16][17][18] The transaction eliminated Blyth's obligation to pay the co-founders $143.2 million as part of the 2008 acquisition. At the time of the transaction, ViSalus' earnings and revenue had declined from a high-point in 2012, and the company had been operating at a loss for 2013 and the first two quarters of 2014.[17]
