Carlyle Agrees to Acquire Blyth for $98M in Take-private Deal
September 01, 2015
The Carlyle Group has entered into a definitive agreement to acquire Blyth (NYSE: BTH), a direct-to-consumer manufacturer and seller of candles and home fragrance products. As outlined in the deal, Carlyle will acquire all of Blyth's outstanding common shares for $6 each, which represents a premium of approximately 105% over its closing share price last Friday; the transaction values the company at $98 million. Equity for the acquisition, expected to close in 4Q, will come from the $1.1 billion Carlyle Equity Opportunity Fund. Financial advisors on the deal included Threadstone Advisors and Houlihan Lokey.