Brookstone Inc., a lifestyle products marketer whose properties include nearly 300 retail outlets, as well as the Gardeners Eden, Brookstone and Hard-to-Find Tools catalogs, has been sold to group of investors for $20.50 per share, or a total price of just under $450 million.
The buyers include Singapore-based OSIM International, which sells a variety of health-related products, Temasek Holdings Ltd. an investment firm also based in Singapore, and JW Childs Associates LP of Boston.
In a statement, Michael Anthony, the firm’s president and CEO, said that the company would not reduce staff levels, and would retain its management team. Brookstone will continue to be based in Merrimack, NH. The sale is expected to be finalized in the second or third quarter of 2005.
