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Turns out the market for public companies in the nutrition market may not be as robust as initially thought. On Sept. 26, weight-loss meal replacement direct seller ViSalus Sciences (majority-owned by publicly traded Blyth Inc.) announced it had canceled plans for an initial public offering.
The company suggested that the health of the public market was incongruous with the explosive growth ViSalus achieved in 2011 and first-half 2012.
"The current IPO marketplace does not appear willing to recognize the strength of this story," Blyth CEO Robert Goergen said in a conference call last week.
On Aug. 21, ViSalus announced it had filed registration with the U.S. Securities and...