October 14, 2015
Carlyle Completes Blyth Acquisition, Appoints Top Executives
Private-equity giant The Carlyle Group has completed its previously announced acquisition of PartyLite parent Blyth Inc. As a result, the firm has appointed Harry Slatkin, a leading name in home fragrance, as Blyth CEO and direct selling executive Dan Chard as President and COO of PartyLite Worldwide.
In a tender offer that expired Tuesday, Carlyle paid $6 per share to acquire the direct-to-consumer business. Blyth’s portfolio includes direct selling brand PartyLite, a maker of candles and home décor, as well as Silver Star Brands, a range of consumer gifts and household products sold via catalogs and online.
Slatkin, hailed as the “king” of home fragrance by The New York Times, is the founder and creative force behind the Slatkin & Co. home fragrance brand. He sold the business in 2005 to L Brands’ Bath & Body Works division, but remained on board as President. Under his leadership, Slatkin & Co. became QVC’s top-selling home fragrance brand and the second-largest home fragrance company in the world. In 2011, Slatkin took on the roles of CEO and Co-Chairman at British lifestyle brand Belstaff.
“Nobody knows home fragrance like Harry Slatkin. He has a strong legacy of innovation, product development and market expansion,” Carlyle Managing Director David Stonehill said in a statement. “We are confident Blyth and its business units PartyLite and Silver Star will thrive under Harry’s inspired leadership.
“We are also very excited to welcome Dan Chard, whose operational expertise in the direct selling sector will help fuel Blyth’s expansion,” said Stonehill.
Chard’s direct selling career includes 15 years at one of the industry’s top companies. In a succession of leadership roles, he supported the brand’s distributors, oversaw operations in Europe, and ultimately took on responsibility for the global sales organization.