MANCHESTER — Bain Capital, co-founded by former Massachusetts governor and 2012 Republican Presidential nominee Mitt Romney, has signed an agreement to acquire a majority stake in Bob’s Discount Furniture, headquartered in Manchester.

Terms of the deal, which is expected to close in the first quarter, were not disclosed. Bob's said the investment will help support its continued expansion. The privately held retailer operates 47 stores on the East Coast, including nine in Connecticut.

Bain acquires the stake held by former majority shareholder KarpReilly/Apax.

Bain principal Tricia Patrick said in a statement that the Bob's business model and brand "should drive sustainable growth for years to come."