GE Capital, Corporate Retail Finance announced it is providing Brookstone with a $115 million senior credit facility. The financing will be used to support the company’s recent acquisition by Sailing Innovation and general working capital needs.
“GE Capital helped to develop a financing solution that was tailored to our needs,” said Jim Speltz, president & CEO of Brookstone. “Their in-depth retail experience will continue to support our objectives while we remain focused on delivering a robust pipeline of innovative and useful products to our customers.”
“We worked closely with Brookstone and Sailing to help position the retailer for success,” said Rob McMahon, senior managing director at GE Capital, Corporate Retail Finance. “We have the expertise to help acquirers and mid-size retailers achieve their goals.”
Merrimack, NH-headquartered Brookstone is a multichannel retailer, operating more than 240 retail locations across the U.S. and Puerto Rico.
Previously on abfjournal: Brookstone’s New Owner Plans to Keep Most Stores Open, June 9, 2014