Sources told Bloomberg that direct selling company Computer Vision Systems Laboratories or CVSL Inc offered USD 268 million to buy Blyth Inc. The people said CVSL made a USD 16.75 per share offer for Blyth. CVSL is run by former Mary Kay Chairman John Rochon. Blyth is a maker of fragrances, candles and Vi-Salus weight loss products.
One of the sources said the offer was given to Blyth last week and CVSL could make a public announcement about its intentions as early as tomorrow. CVSL had acquired Tomboy Tools Inc and Agel Enterprises this year.
Greenwich, Connecticut-based Blyth posted second quarter revenues of USD 211.7 million. This was a decrease compared to its USD 309.5 million revenues in the same period the year before. In August, the company reduced its earnings outlook for 2013 because of the slow sales of its weight loss product.
Rochon was able to grow Mary Kay revenues sixfold to USD 3 billion when he led the company from 1985 to 2001.
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