As Fairfield County hotels readied buffet lines to accommodate storm refugees, Greenwich-based Blyth Inc. announced the sale of its Sterno business famed for its portable chafing fuel and foodservice products.
Blyth has owned Sterno since 1997, and is now selling it to Candle Lamp Co. L.L.C., a Riverside, Calif.-based portfolio company of Westar Capital L.L.C.
“Sterno has been well known for more than 100 years as the industry standard for safe, reliable canned fuel,” said Blyth CEO Robert Goergen, in a prepared statement. “Blyth”™s decision to focus on becoming a direct-to-consumer marketer rendered it a non-core asset.”
Blyth brands include PartyLite and ViSalus Sciences, which both sell through independent, home-based agents on a commission model. Earlier this year, Blyth registered to spin ViSalus off as a separate company in an initial public offering of stock, only to table an IPO indefinitely.
