Brookstone Shareholders OK Sale to Singapore Firm

Share this article:
Specialty retailer Brookstone Inc., Merrimack, NH, said Friday that a majority of its shareholders voted to approve the company's sale to a private consortium led by OSIM International Ltd., a Singapore-based healthy lifestyle products company.


The consortium includes JW Childs Associates LP, Boston, a private equity firm, and Temasek Holdings Ltd., a Singapore-based investment company.


Brookstone shareholders will receive $20 per share in cash. Based on the company's 20.44 million common shares outstanding, the deal values Brookstone at $408.8 million.


Michael Anthony, chairman, president and CEO of Brookstone, said that OSIM will be able to develop products that fit well with Brookstone's high-tech lineup and that its expertise in operating stores in Asia will help Brookstone expand its retail concept globally.


The merger has received all necessary regulatory approvals and will be completed once all of the closing conditions are satisfied.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Metal Mulisha Races Towards Customization

Metal Mulisha Races Towards Customization

The motocross apparel company boosts mobile and Web conversions through product recommendations and personalized search.

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.