TROY— ViSalus management today announced that it has withdrawn its initial public offering due to uncertain market conditions.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, “The 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 percent 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.”
Mr. Blair continued, “Our 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.”