The acquisition will include growth capital “for the pursuit of Robbins’ brand expansion and development strategies,” a statement said.
The chain’s prior owner was also an investment firm, Weston Presidio, which purchased 10 of its 16 stores following its 2009 bankruptcy filing. It eventually reacquired two stores that were originally purchased by Canada’s Spence Diamonds.
Last May, it bought E.E. Robbins, a Seattle-based two-store chain owned by Robbins Brothers founder Emerson “Skip” Robbins, bringing the chain’s total store count to 14.
“I am delighted to have Comvest as our new investors,” said Andy Heyneman, president and CEO of Robbins Brothers, in a statement. “They further solidify our growth plans by bringing not just capital, but a level of commitment, retail expertise, and growth experience.”
The terms were not disclosed.