The deal involves all the titles acquired when the BBC bought Origin Publishing in February 2004 and moved its own specialist titles into the division, renamed BBC Origin.
The titles include Hair Ideas and World of Cross Stitching.
The MBO team purchasing the magazines is led by BBC Origin managing director, Andy Marshall. The new company will take the Origin name.
The move continues the BBC's ongoing commitment to selling commercially competitive titles that are not linked to its TV programmes, as recommended by the broadcaster's 2004's commercial review.
BBC-branded titles previously published by BBC Origin will be produced by a new BBC-owned subsidiary, Bristol Magazines, chaired by BBC Magazines' managing director Peter Phippen.
Homes and Antiques will move from the publisher's consumer division into Bristol Magazines, which will also launch puzzle title Mind Games in June.
In addition, Bristol Magazines will continue to publish Origin's 12 contract titles for clients including HMV and Waterstones.
The BBC will retain a minority stake in Origin in the short term. Marshall will act as managing director of both publishers until Bristol Magazines appoints a new one.