Brookstone Closes Buyout
Brookstone Inc., Merrimack, NH, said yesterday that it closed on its buyout deal with a group of investors led by OSIM International, a Singapore-based healthy lifestyle products company.As a result of the transaction, Brookstone's shares no longer will be listed for trading on Nasdaq, and it will continue operations as a privately held company. All outstanding shares of its common stock have been converted into the right to receive $20 in cash. The deal values Brookstone at $408.8 million, and on Sept. 27 the company's stock had a price of $19.94.
The buyout group also includes JW Childs Associates LP, a Boston-based private equity firm, and Temasek Holdings Ltd., a Singapore-based investment company. Ownership also will include Brookstone senior management, and Brookstone president/CEO Michael Anthony will serve on the board of the new company.
