The Carlyle Group (Nasdaq: CG) will take candle maker Blyth Inc. (NYSE: BTH) private for $98 million in cash. The purchase price values the target at $6 per share. Blyth’s stock closed at $2.92 on Aug. 28.
Blyth, founded in 1976 and based in Greenwich, Connecticut, is known for making candles and other home-fragrance products under the PartyLite, Silver Star and Walter Drake brands. Blyth Chairman Robert Goergen and CEO Robert Goergen Jr., who own a combined 38 percent of the target, have agreed to tender their shares in the transaction.