Robb Report Acquired by Rockbridge Growth Equity
Posted on December 7, 2014
Rockbridge Growth Equity, a private equity firm based in Detroit, has acquired Robb Report from CurtCo. Robb Report is a well-known luxury lifestyle publication. Rockbridge is helmed by Cleveland Cavaliers owner Dan Gilbert. The November 2014 cover of the magazine is pictured above.
The deal brings Robb Report to Detroit which seems an unlikely base for the luxury title but it could be good for the city. The New York Post reports that the deal was worth about $60 million. The Detroit Free Press reports that the Robb Report will be opening a new office in downtown to support the publication. In a release, the company notes that over 120 companies have moved along or near Detroit's high-tech corridor.
Bill Curtis, Robb Report CEO, says in a statement, "The insight and creativity of the Rockbridge team, combined with expertise from its affiliated companies, will facilitate rapid growth at Robb Report allowing us to build upon our digital and international momentum. The partnership with Rockbridge will allow us to expand our digital and international strategy and reach more of our unique audience and better connect them with our advertisers."
Robb Report says it plans to expand the luxury magazine from 14 international editions to 30 international editions from its new Detroit base. The magazine is in its 38th year. It is currently headquartered in Malibu, Calif.