By  on August 7, 2014

Lululemon Athletica Inc.’s founder, Chip Wilson, reached an agreement worth about $845 million to sell half his stake in the company to private equity firm Advent International.

The deal was backed by the Lululemon board and will give Advent 20.1 million shares, or 13.9 percent of the company, and two seats on the retailer’s board.

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