LOS ANGELES, Dec. 22, 2016 -- ViSalus CEO Ryan Blair today announced a new investor group and corporate restructuring designed to strengthen the company's balance sheet. As part of this transaction, Blair announced he is stepping down as CEO to devote more time to his venture capital firm and towards mentoring leading tech innovators. Blair will hand the reins to ViSalus Co-Founder Nick Sarnicola, who will take over as CEO effective January 1, 2017.

After selling the company to Blyth, Inc. in 2012 for $792.4M, Blair and his co-founders bought the company back for $148M in September 2014, taking the company private. After two years of investing in international expansion, the acquisition of NEON Energy Drink, right sizing the business, debt restructuring and stabilizing sales, Blair sold controlling interest to an investor group led by his Co-Founder Nick Sarnicola. Blair and The Goergen family remain on the board, and The Carlyle Group owned Blyth, Inc. remain shareholders.