After completing the acquisition of ViSalus earlier this year, Greenwich-based Blyth Inc. filed to sell off part of the weight management and nutritional supplement company through an initial public offering of stock, while retaining more than half of ViSalus’ shares.
As is the case with Blyth and its army of PartyLite agents that hawk home goods, ViSalus likewise sells through independent sales “promoters” who earn commissions. Between the midpoint of 2011 and 2012, ViSalus quadrupled its promoter base to 114,000 people, resulting in a fivefold increase in customers to nearly 1.3 million in all. In the first half of 2012, ViSalus earned $24.5 million on revenues of $327 million.
ViSalus has its main office in Troy, Mich.
Blyth did not immediately specify a target date or price for any ViSalus IPO. Jefferies & Co. Inc. is the book-running manager for the offering.
