Investment firm acquires Robbins Bros
January 27, 2014
New York--California retailer Robbins Brothers confirmed last week that the company has been sold to private equity firm Comvest Investment Partners.
The Azusa, Calif.-based retailer currently operates 14 stores throughout southern California, Texas and Washington state. The investment will include capital for Robbins Brothers’ brand expansion and development strategies, the company said.
According to a release, Comvest was attracted to the company’s “unique, differentiated business model that provides an unparalleled selection and unique experience for the bridal shopper.”
Financial terms of the deal were not disclosed.
Previously, Boston-based investment firm Weston Presidio owned Robbins Brothers.
“I am delighted to have Comvest as our new investors,” said Andy Heyneman, Robbins Brothers president and CEO. “They further solidify our growth plans by bringing not just capital, but a level of commitment, retail expertise and growth experience that will help us to continue to build a great company and expand our ability to deliver unparalleled experiences for bridal and engagement ring customers.”
Tom Clark, managing director at Comvest Partners, said “We are extremely excited about our investment in (the company). Robbins Brothers has built a great brand, has an incredibly strong team of people and is a truly differentiated concept. We look forward to working with management to build on the company’s success.”