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

Apparel/Garments | On 25th Jun 2016

AEPC fears Brexit will hurt Indian apparel exports

The Apparel Export Promotion Council (AEPC) expressed its...

Courtesy: ITMF

Textiles | On 25th Jun 2016

Global yarn output up 20% q-o-q in Q1 2016: ITMF

The global yarn production increased by 20 per cent...

Courtesy: Balmain

Fashion | On 25th Jun 2016

Qatari investment fund buys French label Balmain

Mayhoola for Investments, an investment fund backed by the Emir of...

Interviews View All

Victor Chao
Esmetex

Could you describe the global market for sportswear? Which are the...

Rajiv Sirohi
Shara

What kind of fabric is in demand in export markets of home textiles? What...

Pinkesh Jain
Everflow Petrofils Ltd

What are the latest technological innovations in the spinning industry?...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Paolo Ocleppo
Sandvik Hyperion

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

Silke Brand-Kirsch
Schlegel und Partner

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search