All ViSalus Co-Founders Continue in Leadership Roles and Invest $14.6 Million Stake in Parent Company Blyth, Inc.
ViSalus, the ultra-premium lifestyle company delivering cutting-edge products via the Body by Vi™ 90-Day Challenge, today announced that Blyth, Inc. has completed the third of a four-phase acquisition of ViSalus. Under the terms of the acquisition agreement between Blyth and ViSalus, the acquisition payments are based on an amount equal to a multiple of ViSalus's earnings. The amount on which the payments are based has increased to over $250 million for 2011 compared to approximately $16 million for 2010. ViSalus's sales have increased to $231 million in 2011 from $34 million in 2010.
All three company co-founders, Ryan Blair, Chief Executive Officer; Blake Mallen, Chief Marketing Officer; and Nick Sarnicola, top sales leader, have agreed to stay on with ViSalus in their current roles. The founders personally invested $14.6 million from the proceeds of the acquisition in restricted stock of parent company Blyth, Inc., making them the largest inside shareholders after the Goergen family.
We believe in Blyth. The Goergens have been like family to us so it only makes sense that we go all in with the Blyth family of companies, stated Ryan Blair, co-founder and CEO of ViSalus.
This answers the question as to the future of the founders of ViSalus and Blyth once and for all. We now own a significant stake in Blyth, continued Nick Sarnicola.
Our vision from day one was to build a great company that would stand the test of time, said Blake Mallen, Co-Founder and CMO. In 2008 we were privileged to become a part of the Blyth Family, and today we are honored to be significant shareholders. What excites me most is the lives we can impact together in the years to come.
We are gratified that Ryan, Blake, and Nick are continuing in their ViSalus leadership roles and have an enhanced presence with Blyth, stated Robert B. Goergen, Blyth's Chairman of the Board and Chief Executive Officer. ViSalus' market model and technology savvy is truly transforming the health and direct selling industries.
Launched in 2005 as ViSalus Sciences and now known as 'ViSalus,' the company provides health benefits from weight loss and fitness milestones, or Challenges, to better one's overall health and wellness. ViSalus' product Kits support a range of fitness goals: Balance, Shape, Core, Transformation and newly launched Fit Kit and are used by people of all ages focused on creating and maintaining individually defined healthy lifestyle.
ViSalus, headquartered in Troy, MI and Los Angeles, CA, is a leading Health Transformation Company utilizing the direct selling channel to distribute its meal replacement and nutritional supplement products. ViSalus is built around the wildly successful Body by Vi™ 90-Day Challenge, a health challenge that helps people achieve their weight loss and fitness goals. ViSalus is majority-owned by Blyth, Inc.
SOURCE ViSalus LOS ANGELES, Jan. 13, 2012 /PRNewswire/ —
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