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 29th Jul 2016

Q2FY17 income from operations triples at Dixie Group

Income from continuing operations at the Dixie Group for the second...

Courtesy: YFA Tradeshow

Textiles | On 29th Jul 2016

Chinese Pavilion to be highlight of YFA 2016 Show

A Chinese Pavilion will be the highlight of the upcoming second...

Courtesy: India ITME Society

Textiles | On 29th Jul 2016

Bangladesh hopes for better trade ties with India

Bangladesh’s Minister of State for Textiles & Jute Mirza Azam said he ...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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