Ireland Blyth Limited was incorporated as a private company domiciled in Mauritius on 14 July 1972, following the merger of two long standing local business firms :

- Blyth Brothers & Company Ltd, founded in 1830

- Ireland Fraser & Company Ltd, founded in 1850

In 1994, Ireland Blyth Limited became a public company and was admitted to the Official List of the Stock Exchange of Mauritius.

In 2010, Ireland Blyth Limited became a subsidiary of GML Investissement Ltée.

In July 2016, Ireland Blyth Limited and GML Investissement Ltée merged to create IBL Ltd.