Terms were not disclosed.
As part of the acquisition, former Brookstone CEO James Speltz, who has been LBH’s president since 2017, took on the role of CEO.
Darrell Ross, the son of Ross-Simons’ founder and a five-decade veteran of the company, has stepped down as LBH’s CEO but will remain a member of its board.
The acquisition “sets the stage for a whole new chapter of growth,” says Speltz. “Nonantum isn’t coming in with any particular agenda or strategy. They are supportive of management’s efforts to grow the business.”
Future plans include increasing Ross-Simons’ digital footprint throughout the United States and internationally.