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Lululemon Athletica founder explores sale to private equity firm

3 Jul 2014

yogaAdvisers to yoga clothing maker Lululemon Athletica are reportedly looking to sell the company to private equity firms.

The company’s founder Dennis Wilson has already contacted firms including Leonard Green & Partners, said the Wall Street Journal.

The report said that such a deal would face significant hurdles as the buyer would have to buy Lululemon at a premium to its current market cap of $6bn.

Wilson is still a director of the company after resigning as its CEO in 2005 and stepping down as chairman in May this year.

At Lululemon’s most recent board meeting last month, Wilson said he was unhappy with the strategic director of the company and voted against its new chairman and another director.

“We have no comment on any transaction until Chip has made his decision and we are moving forward with it,” Wilson’s spokesman Jim Courtovich told the publication.

Last month Leonard Green bought Advantage Sales & Marketing from fellow private equity firm Apax Partners.

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