Private-Investment Firm to Acquire Bob's Discount Furniture
January 02, 2014
Manchester, Conn.-based Bob’s Discount Furniture has signed a definitive agreement to sell a majority stake in the company to private-investment firm Bain Capital. The management team will continue to own a significant stake in the company. Financial terms of the private transaction were not disclosed. With 47 stores located throughout Northeast and Mid-Atlantic and plans to open in the Philadelphia area in February 2014, Bob’s Discount Furniture has grown significantly over the last 10 years. Bain Capital has a history of investments in a variety of retail and consumer businesses, including Michaels Stores, Dunkin’ Brands Group, Bombardier Recreational Products, Outback Steakhouse, Burlington Stores, Dollarama and Samsonite Intl. The transaction is expected to close during the first quarter of 2014.