Who Owns Bob’s Discount Furniture?

Bob’s Discount Furniture is a popular American furniture retail chain with over 140 stores spread across 21 states. The company was founded in 1991 by Bob Kaufman, who is still actively involved in its operations. Over the years, Bob’s Discount Furniture has become a go-to destination for budget-conscious shoppers looking for affordable and stylish furniture pieces. While many people are familiar with the brand, most are unaware of who owns Bob’s Discount Furniture.

The Ownership of Bob’s Discount Furniture

Bob’s Discount Furniture is a privately held company, which means that it is not listed on any public stock exchanges. The ownership of the company is split between two private equity firms, Bain Capital and Oak Hill Capital Partners. The two firms acquired Bob’s Discount Furniture in 2013 from its previous owner, KarpReilly LLC.

As of 2021, the ownership structure of Bob’s Discount Furniture is as follows:

– Bain Capital: 70%
– Oak Hill Capital Partners: 30%

Both Bain Capital and Oak Hill Capital Partners are well-respected private equity firms with a history of successful investments. Bain Capital, for instance, was co-founded by former U.S. Presidential candidate Mitt Romney and is credited with investing in numerous successful companies, including Dunkin’ Donuts, Burlington, and Gymboree. Oak Hill Capital Partners, on the other hand, has investments in a diverse range of companies, including media giant Univision and insurance company EPIC.

The ownership by private equity firms is not uncommon in the retail industry. Private equity firms typically acquire companies with the aim of increasing their value and selling them off for a profit later on. In the case of Bob’s Discount Furniture, Bain Capital and Oak Hill Capital Partners have been instrumental in expanding the company’s operations and opening new stores.

FAQs about Bob’s Discount Furniture

Here are some frequently asked questions about Bob’s Discount Furniture:

Is Bob Kaufman still involved in the company?

Yes, Bob Kaufman is still involved in the operations of Bob’s Discount Furniture. While he is no longer the CEO of the company, he serves as its Chairman Emeritus and is actively involved in the strategic direction of the business.

Where are Bob’s Discount Furniture stores located?

Bob’s Discount Furniture has over 140 stores spread across 21 states. You can find a store near you by visiting the company’s website and using their store locator tool.

What products does Bob’s Discount Furniture sell?

Bob’s Discount Furniture sells a range of furniture pieces for the home, including sofas, beds, bunk beds, dressers, dining tables, and chairs. They also sell accent pieces such as coffee tables, lamps, and rugs.

Does Bob’s Discount Furniture offer financing options?

Yes, Bob’s Discount Furniture offers financing options to its customers through its preferred lender, Wells Fargo Financial National Bank. Customers can apply for financing online or in-store.

What is the return policy at Bob’s Discount Furniture?

Bob’s Discount Furniture has a 30-day return policy for most items. Customers can return items either in-store or by contacting the company’s customer service department.

Does Bob’s Discount Furniture offer delivery?

Yes, Bob’s Discount Furniture offers delivery services to its customers. Delivery fees vary based on the distance from the store to the customer’s home and the size of the items being delivered.

What is Bob’s Discount Furniture’s price range?

Bob’s Discount Furniture is known for offering furniture pieces at affordable prices. Prices vary depending on the type of furniture, but most pieces are priced in the mid-range to low-end.

Conclusion

Bob’s Discount Furniture is a popular American furniture retail chain that is known for offering affordable and stylish furniture pieces. The company is privately held, with ownership split between two private equity firms, Bain Capital and Oak Hill Capital Partners. Despite its ownership structure, Bob’s Discount Furniture has managed to maintain the same level of quality and customer service that it was known for when it first started. If you’re on a budget and in need of new furniture pieces, Bob’s Discount Furniture is definitely worth considering.