Blyth, Inc. Completes Third Closing of ViSalus Acquisition

Published on Monday, 16 January 2012 08:13 Written by TradersHuddle Staff

Company Now Owns 71.7% of Leading Direct Selling Health & Wellness Brand

GREENWICH, Conn., Jan. 16, 2012 /PRNewswire/ -- Blyth, Inc. (NYSE: BTH), a leading direct selling and direct marketing company focused on home fragrance, home decor and products that support healthy living, today announced that it has completed the third closing of a four-phase acquisition of ViSalus Sciences.  ViSalus delivers cutting-edge products, including weight management products, nutritional supplements and energy drink mixes, via the Body by Vi™ 90 Day Challenge. 

As part of the closing, Blyth issued a total of approximately 340,000 restricted shares of Blyth common stock to ViSalus' co-founders, Ryan Blair, Blake Mallen and Nick Sarnicola, who will continue in their current roles.  The Founders' investment in Blyth collectively makes them the largest inside shareholder after the Goergen family.

Robert B. Goergen, Blyth's Chairman of the Board and Chief Executive Officer, said, "We welcome all three ViSalus Founders as significant Company shareholders and are very pleased to have them continue in their roles.  All of us at Blyth look forward to our continued support of the Founders' and management team's initiatives to build ViSalus into a global lifestyle brand."

Blyth, Inc., headquartered in Greenwich, CT, USA, is a multi-channel company primarily focused on direct selling.  We design and market home fragrance products and decorative accessories, as well as weight management products, nutritional supplements and energy drink mixes.  These products are sold through the home party plan method of direct selling and through network marketing, respectively. The Company also designs and markets household convenience items and personalized gifts through the catalog/internet channel, as well as tabletop lighting and chafing fuel for the foodservice trade.  The Company manufactures most of its candles and chafing fuel and sources nearly all of its other products.  In North America, its products are sold direct to the consumer under the PartyLite®, Two Sisters Gourmet® by PartyLite and ViSalus Sciences® brands, to consumers in the catalog/Internet channel under the As We Change®, Easy Comforts®, Miles Kimball®, Exposures® and Walter Drake®, and to the Foodservice industry under the Sterno®, Ambria® and HandyFuel® brands.  In Europe, Blyth's products are also sold under the PartyLite brand. 

Blyth, Inc. may be found on the Internet at www.blyth.com.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical facts.  Actual results could differ materially due to various factors, including the slowing of the United States or European economies or retail environments, the risk that we will be unable to maintain our historic growth rate, our ability to respond appropriately to changes in product demand, the risk that we will be unable to integrate the businesses that we acquire into our existing operations, the risks (including foreign currency fluctuations, economic and political instability, transportation delays, difficulty in maintaining quality control, trade and foreign tax laws and others) associated with international sales and foreign sourced products, risks associated with our ability to recruit new independent sales consultants, our dependence on key corporate management personnel, risks associated with the sourcing of raw materials for our products, competition in terms of price and new product introductions, risks associated with our information technology systems (including, susceptibility to outages due to fire, floods, power loss, telecommunications failures, computer viruses, break-ins and similar events) and other factors described in this press release and in the Company's most recently filed Annual Report on Form 10-K.

SOURCE Blyth, Inc.