CVSL Says It Has Liquidated Its Remaining Stake In Blyth
DALLAS, Jan. 28, 2014 /PRNewswire/ -- John Rochon Jr., the chairman of CVSL Inc.'s investment committee [OTCQB: CVSL], said today that CVSL has sold all of its remaining shares of Blyth, Inc. and no longer holds any equity position in Blyth.
Last fall, CVSL indicated publicly that it had acquired a stake in Blyth. On October 29, 2013, CVSL announced that it had proposed a business combination with Blyth, under which CVSL would acquire all public common shares of Blyth for a per share consideration of $16.75.
Following the rejection of CVSL's offer by Blyth management, CVSL has liquidated its Blyth position in full. Mr. Rochon noted that CVSL has essentially broken even financially on its Blyth investment.
CVSL is a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. CVSL companies currently include The Longaberger Company, a 40-year old maker of hand-crafted baskets and other home décor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Tomboy Tools, a direct seller of tools designed for women as well as home security systems; and Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line sold under the Ageless™ brand, operating in 40 countries; Paperly, which offers a line of custom stationery and other personalized products; and My Secret Kitchen, a U.K.-based seller of gourmet food products.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology. Such statements include statements regarding our anticipated revenues, and our growth. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors; our growth may not continue as anticipated and our revenue may not be as expected and the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2012, our Forms 10-Q, including the one issued for the period ending September 30, 2013 and those discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.
CVSL Media Contact: Russell Mack (email@example.com)
CVSL Investor Relations Contact: Scott Pumper (firstname.lastname@example.org)
SOURCE CVSL Inc.