Home / Knowledge / News / Apparel/Garments / lululemon athletic founder sells 50% stake to Advent Intl
lululemon athletic founder sells 50% stake to Advent Intl
14
Aug '14
Dennis Wilson, founder and board member of NASDAQ-listed lululemon athletica Inc has sold his 13.85% stake to Advent International, a global private equity investor.

The deal has been signed for $845 million and Advent will be acquiring 50% of the stake held by Dennis Wilson in lululemon athletic.

Advent previously invested in lululemon in 2005, and helped it expand from a regionally focused retailer to a globally recognized premium apparel brand. Advent exited from the original investment in June 2009.

Advent Managing Partner David Mussafer and Managing Director Steven Collins will be appointed to lululemon's Board of Directors, which will effectively expand the it from 10 to 12 members.

David Mussafer also will be appointed Co-Chairman of the lululemon Board, serving alongside Mr. Casey, and will serve on the Board's Nominating and Corporate Governance Committee.

Steven Collins will serve on the Board's Compensation Committee. David Mussafer and Steve Collins had previously served as director on lululemon's board.

Dennis Wilson currently beneficially owns 40.2 million shares of lululemon common stock or approximately 27.7% of the outstanding shares.

Once the stock sale agreement is completed, Advent and Dennis Wilson will each beneficially own approximately 20.1 million shares of lululemon common stock, or approximately 13.85% of the outstanding shares.

The stock purchase agreement is subject to applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X