The Carlyle Group LP has decided to merge with the Candle-lite Company. PartyLite is a portfolio company of the Carlyle Equity Opportunity Fund. The $1.1 billion American fund manages a portfolio of assets around the globe. The Candle-lite Company is owned by a private New York asset management company called Centre Lane Partners LLC. Both companies will be held by a new holding company called the Luminex Home Décor and Fragrance Holding Corporation. PartyLite and Candle-lite are wholly-owned subsidiaries of the holding corporation. Both companies believe this recent MLM legal news will help them reach more consumers and make them the leading global home décor and fragrance company. The leaders of Luminex are confident about the merger because they believe they will be able to combine the company’s research and development and other important assets to take over more market share.
The Chief Executive Officer of Candle-lite, Calvin Johnston, will be the head of Luminex. He will also serve on the board of directors for the Luminex Home Décor & Fragrance Holding Corporation. Executives from the Carlyle Group and Centre Lane Partners will also be on the board. The headquarters for Luminex will officially move to Candle-lite’s headquarters in Blue Ash, Ohio.
Leaders from both companies are excited by the merger since there will be more opportunities for growth. Especially since Luminex will be able to leverage the combined assets and talent at PartyLite and Candle-lite. The merger will also allow them to showcase their products on a bigger platform. When the merger is complete, the combined company will have over 1,200 employees in 12 offices around the world.
The Carlyle Group is traded on the NASDAQ. The global fund has almost $180 billion assets under management. Almost 1,700 people work for the group on six different continents. The Carlyle Group focuses on a variety of industries, including technology, healthcare, business services, telecommunications, aerospace, and transportation. Public pensions are some of the fund’s main investors.
The Candle-lite Company was founded in Cincinnati, Ohio in 1840 by Thomas Emery. Emery was a traveling salesman who sold candles door to door. His family decided to expand the business and he eventually moved the company’s operations to Cincinnati, Ohio. The Emery family owned the business for over a hundred years until it was sold in 1952. Then John Magro and Al Levinson purchased the candle business and renamed it “Candle-lite”. Twenty years later the business was acquired by Lancaster Colony Corporation. Centre Lane Partners bought it in 2014.
The company designs manufactures and wholesales candles and other home fragrance items. Due to its popularity, Customers can buy their products online and in major retail stores across the United States. Their product selection is inspired by everyday decor, celebrations, and seasonal holidays. Candle-lite has three catalogs, premium, every day, and seasonal.
PartyLite was founded more than 40 years ago in Plymouth, Massachusetts by a woman named Mabel Baker. A teacher in New England, she focused on making quality candles dates in her Cape Cod kitchen. Eventually, the company was renamed PartyLite in 1973 by its owners.
The company makes and distributes home décor and fragrance products through direct selling. Independent sales associates or consultants sell their products at house parties for a commission. The company’s sales soared using the direct selling method. Customers can choose from a range of candle holders, wax warmers, premium candles, flameless fragrance items, and other items. Holiday products and home decor items are also available. Over 45,000 consultants in over 20 countries sell Party-lite products. The company is a member of the Direct Selling Association.
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