Breaking News

Blyth To Spin Off Wholesale Business

October 21, 2005

Blyth Inc. said it will spin off its wholesale business into a separately traded company, a move the scented candle maker said would lift its stock price and allow it to focus on reviving its direct selling and catalog and internet divisions.
The proposed spin-off will create the largest publicly traded wholesaler of decorative home products, with roughly 3,200 employees and estimated annual revenue of $700 million. In fiscal 2005, the wholesale segment contributed operating income of $30.7 million on $657 million in revenue, Blyth said. The transaction is expected to be completed in the second quarter of fiscal 2006.
Bruce G. Crain, president of the wholesale group, will be chief executive officer of the new company, which includes Blyth’s branded and private label candle markets in North America and Europe, as well its seasonal decorations business.

blog comments powered by Disqus
  • Innovation On Display

    Melissa Meisel, Associate Editor||February 3, 2016
    P&G Beauty Digital Studio showcases new products for 2016

  • Crowning Glory

    Crowning Glory

    Christine Esposito , Associate Editor||February 3, 2016
    Celebrity stylists and experts from leading hair care brands talk about the ingredients and formats driving the styling sector.

  • Electric Slide

    Electric Slide

    Melissa Meisel, Associate Editor||February 3, 2016
    Skin care devices bring anti-aging to the next level