Jessie Taylor
Blyth Industries, Inc. is a marketing and manufacturing company based in Greenwich, Connecticut, that sells personal and decorative products. In 2001, it was the largest candlemaker in the United States, with subsidiaries including multi-level marketing companies like PartyLite and ViSalus. Over the years, Blyth has expanded its product lineup through acquisitions and organic growth, including the acquisition of Colonial Candle of Cape Cod in 1990 and Aromatic Industries in 1992. In 2015, Blyth was acquired by the private equity firm Carlyle Group for $98 million, and the company continues to sell candles and home fragrance products.
| Characteristics | Values |
|---|---|
| Company Name | Blyth Industries, Inc. |
| Location | Greenwich, Connecticut |
| Industry | Marketing and manufacturing of personal and decorative products |
| Specialisation | Candles and home fragrance products |
| Brands | Colonial Candle, Mrs. Baker, PartyLite, Visalus, Sterno, Easy Comforts, As We Change, Walter Drake |
| Sales Figures | $390 million for candles and home décor products |
| Corporate Sales | $885 million |
| Net Income | $2 million |
| Acquisition Price | $98 million |
| Parent Company | The Carlyle Group |
| Year Acquired | 2015 |
| Subsidiaries | PartyLite, Visalus, CBK Ltd., Midwest CBK, Silver Star Brands |
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What You'll Learn
Blyth Industries was acquired in 2015
Blyth Industries, a candle manufacturer and designer, was acquired by the private equity firm Carlyle Group in 2015. The Carlyle Group is a global alternative asset manager that has expertise in various industries, including consumer and retail, energy, financial services, and healthcare.
The acquisition of Blyth Industries for $98 million was announced on August 31, 2015, with the transaction valuing Blyth at $6.00 per share—a premium of approximately 105% over the closing price of Blyth common stock on Friday, August 28, 2015. The acquisition was expected to close in the fourth quarter of 2015.
Blyth Industries, Inc. was a leader in the candle industry, designing, manufacturing, and marketing candles for nearly every market segment. With its Candle Corporation of America and other subsidiaries, Blyth offered candles for food service, institutional, religious, mass merchandise, retail, and high-end specialty markets. The company also sold related items such as outdoor citronella products, potpourri, and other fragrance products.
Prior to its acquisition, Blyth Industries had made several acquisitions of its own. In 1990, the company purchased Colonial Candle of Cape Cod, which brought them deeper penetration into the department store channel. In 1995, Blyth purchased 25% equity investments in two British candle companies, Colony Gift Corporation and Eclipse Candles, expanding its product lineup internationally. In 2001, Blyth acquired CBK, a designer and marketer of giftware and home decor, and in 2008, it began a multi-stage takeover of ViSalus, a multi-level marketing company selling nutritional supplements and energy drinks.
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PartyLite is a subsidiary of Blyth
Blyth Industries, Inc. is a marketing and manufacturing company based in Greenwich, Connecticut. In 2001, it was the largest candlemaker in the United States, with sales of $390 million for candles and home décor products.
Blyth's subsidiaries include the multi-level marketing companies PartyLite and Visalus. PartyLite is Blyth's direct selling business, accounting for nearly half of the company's annual sales. In 2005, there were more than 57,000 PartyLite independent sales consultants across the globe.
PartyLite became a part of Blyth following the acquisition of Colonial Candle of Cape Cod from General Housewares Corp. in 1990. Colonial Candle's direct-selling PartyLite Gifts unit was included in the purchase, which helped Blyth establish itself as a single-source supplier of candles, fragrances, and accessories across various distribution channels.
In 2015, Blyth was acquired by the private equity firm Carlyle Group, and PartyLite remained as one of Blyth's subsidiaries. Today, PartyLite continues to sell candles, home fragrances, and decor items, offering a range of scented candles and decorative options.
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Blyth's candle sales are declining
Blyth Industries, a leading home expressions company, has experienced a decline in its candle sales in recent years. While the company initially focused on the candle business, diversifying its product range and expanding globally, the latest reports indicate a downward trend in sales performance.
Blyth's candle sales performance has been mixed, with some periods of growth and decline. In 2014, the company's corporate sales fell by 25%, while the candle business showed relative resilience, with sales dropping by only 6%. This 6% decline was attributed to a significant decrease in North American sales, which fell by 17% due to a reduction in active representatives. Additionally, European sales contributed to the overall decline, falling by 2%. However, it's important to note that Blyth experienced positive sales growth in certain markets, such as Australia and Finland, with Australian sales surging by 27%.
The downward trend in candle sales continued into 2013, with a nearly 10% drop in candle and home décor sales, resulting in just under $91 million in revenue. This decline was influenced by a 21% decrease in PartyLite's US sales, which was attributed to a reduction in active independent consultants. Furthermore, PartyLite's European sales also fell by 3%, impacting the overall performance.
Blyth's candle sales challenges can be partly attributed to market conditions and competition. The company's acquisition strategy and expansion into various markets, including Europe, aimed to capitalize on growth opportunities. However, the European market posed challenges, with sales falling short of expectations. The decline in European sales for candles was particularly notable, with a 16% drop due to lower sales in key markets such as Germany, France, and the UK.
To address the declining candle sales, Blyth has made strategic adjustments. The sale of its Sterno business in 2012 and the focus on direct selling and market distribution channels demonstrate the company's adaptability. Additionally, Blyth's acquisition by the private equity firm Carlyle Group in 2015 for $98 million signaled a new direction. The Carlyle Group's expertise across various industries and global presence could potentially help revive Blyth's candle sales and overall business performance.
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$14.98
Blyth's subsidiaries
Blyth, Inc. is a marketing and manufacturing company based in Greenwich, Connecticut, that sells personal and decorative products. In 2001, it was the largest candlemaker in the United States.
On May 13, 2002, Blyth acquired all the membership interests in CBK, Ltd., LLC, a designer and marketer of giftware and home decor sold under the CBK brand. Midwest CBK was sold to MVP Group International in 2011. In 2012, Blyth sold the brand Sterno, which it had acquired in 1997.
Blyth's other subsidiaries include its Candle Corporation of America, which designs, manufactures, and markets candles for nearly every market segment, as well as related items such as outdoor citronella products, potpourri, and other fragrance products. In 1990, Blyth acquired Colonial Candle of Cape Cod from General Housewares Corp., which brought Blyth deeper penetration into the department store channel. The purchase also included Colonial's direct-selling PartyLite Gifts unit.
In 1995, Blyth purchased 25% equity investments in two British candle companies, Colony Gift Corporation, Ltd. and Eclipse Candles, Ltd., whose product lines complemented Blyth's domestic product base. In 1996, Blyth reached an agreement with Hallmark Cards, Inc. for a joint marketing and distribution partnership, under which Blyth would purchase Hallmark's candlemaking production facilities and replace Hallmark's Canterbury brand of candles with Blyth's Colonial and Mrs. Baker brands in Hallmark's stores.
In 2015, Blyth was acquired by the private equity firm Carlyle Group for $98 million.
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Blyth's acquisitions
Blyth Industries, Inc., a marketing and manufacturing company based in Greenwich, Connecticut, has a history of acquisitions that have contributed to its growth and expansion into new markets.
From the 1970s to the 1980s, Blyth Industries, then known as Candle Corporation of America, began acquiring small candle makers, adding four companies between 1977 and 1981 and significantly increasing its revenues. This strategy allowed Blyth to expand its product line and enter the consumer sales market.
In 1986, Blyth made its first major acquisition by purchasing Old Harbor Candles, a subsidiary of Towle Manufacturing. The following year, they acquired Lenox Candle assets, including the Carolina brand, from Brown-Forman subsidiary Lenox Inc. This acquisition strengthened Blyth's distribution in the retail and specialty store channels and positioned them as a leading candle manufacturer.
In 1990, Blyth Industries made a significant acquisition by purchasing Colonial Candle of Cape Cod, a former rival, from General Housewares Corp. This move gave Blyth deeper penetration into the department store channel and included the acquisition of Colonial's direct-selling PartyLite Gifts unit.
Blyth continued its acquisition strategy in the 1990s, purchasing a 25% equity stake in two British candle companies, Colony Gift Corporation and Eclipse Candles, in 1995. The company also expanded domestically, acquiring an 80% stake in Jeanmarie Creations, a maker of decorative wrapping paper and accessories.
In 2001, Blyth Industries, now known as Blyth, Inc., was the largest candlemaker in the United States. They continued to expand through acquisitions, purchasing CBK, Ltd., LLC, a designer and marketer of giftware and home decor, in 2002.
In 2008, Blyth began a multi-stage takeover of ViSalus, a multi-level marketing company selling nutritional supplements and energy drinks. By 2012, Blyth owned a 73% share of ViSalus, but the founders and select stockholders of ViSalus arranged to buy back control of the company in 2014, leaving Blyth with a 10% equity stake.
In 2015, Blyth, Inc. was acquired by the private equity firm Carlyle Group for $98 million, marking the end of its independence but continuing its legacy of acquisitions and growth.
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Frequently asked questions
Yes, Blyth Industries still sells candles, along with other candle-related items such as outdoor citronella products, potpourri, and candle accessories.
Blyth Industries sells candles for nearly every market segment, including food service/institutional, religious, mass merchandise, retail, and high-end specialty markets.
Blyth Industries sells their candles in the US, Europe, Australia, and Finland.
Blyth Industries has grown from a $3 million maker of religious and institutional candles to an industry powerhouse, with sales exceeding $1.6 billion and operations in 18 countries.
Some of Blyth Industries' subsidiaries include PartyLite, Visalus, and CBK, Ltd.
