Bob’s management will continue to hold a significant stake in the company according to a statement, which said it expected the deal to close in the first quarter of 2014.
Bain Capital’s previous retail and consumer investments include Michaels Stores, Dunkin’ Brands Group, Bombardier Recreational Products, Outback Steakhouse, Burlington Stores, Dollarama, and Samsonite International.
Tricia Patrick, a principal at Bain Capital, said, “We are excited to partner with Ted English and the great management team at Bob’s Discount Furniture to support continued growth in this dynamic business.
“We believe the company’s quality furniture at deep value fills an important need in the market today, and along with the authenticity of the Bob’s brand, should drive sustainable growth for years to come.
“We look forward to supporting the management team in executing their plan to grow and offer more customers the opportunity to shop at Bob’s Discount Furniture.”
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