VISALUS COMMENTS ON STRATEGIC DIRECTION
Management Withdraws Initial Public Offering
Due to Unfavorable Market Conditions
Troy, MIâSeptember 26, 2012â ViSalus management today announced that it has withdrawn its initial public offering due to uncertain market conditions.
Commenting on the announcement, Ryan Blair, Chief Executive Officer of ViSalus, said, âThe exceptional performance of our incredible field of Promoters and leaders, and our world-class management team, deserves a time and a setting in which an industry-changing company like ViSalus will be celebrated. With Net Sales growth of more than 450% during the first half of 2012 versus prior year, we continue to build a North American household brand. We have complete confidence in our long-term growth prospects, and we have the team on board to achieve our goals.â
Mr. Blair continued, âOur colleagues at Blyth stand by the Founders in our decision. As the cumulative second largest inside shareholders of Blyth stock, myself, Nick and Blake plan to continue building equity together with Blyth for the long term.â
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical facts. Actual results could differ materially due to various factors, including the slowing of the North American economies or retail environments, the risk that we will be unable to maintain our historic growth rate, our ability to respond appropriately to changes in product demand, risks associated with our ability to recruit new independent sales promoters, our dependence on key management personnel, risks associated with the sourcing of raw materials for our products, competition in terms of price and new product introductions, risks associated with our information technology systems (including, susceptibility to outages due to fire, floods, power loss, telecommunications failures, computer viruses, break-ins and similar events) and other factors described in this press release and Blyth's most recently filed Annual Report on Form 10-K.
Founded in 2005 with headquarters in Los Angeles, CA and Troy, MI, ViSalus is the company behind the Body by Vitm Challenge, a 90-day health transformation platform. ViSalus champions personal victories and entrepreneurship through a social marketing model, premium products, and global community culture. ViSalus is majority-owned by Blyth, Inc. (NYSE:BTH).
Contact: Tyler P. Schuessler, +1-203-552-6673