Lululemon to Repurchase 1 Million of Its Own Shares From Advent

Lululemon Athletica Inc. is on a roll now that it is reinvesting in its stock. The ath-leisure company said Thursday that it is repurchasing 1 million shares of its own common stock from private equity giant Advent International for roughly $163 million.  “We appreciate Advent’s ongoing partnership and continued guidance over the years as the company has grown considerably,” said Calvin McDonald, chief executive officer of Lululemon. “Lululemon is stronger today because of our work together and we are pleased to complete this transaction in a strong financial position.”  Back in 2014, Lululemon founder Dennis “Chip” Wilson sold half of his stake in the women’s yoga pants company to Advent, a private equity firm, for $845 million. That deal, which was backed by Lululemon’s board, gave Advent two seats on the retailer’s board and 20.1 million shares, or about 14 percent of the company. It was also an attempt to resolve disagreements among board members. Those disagreements revolved around Wilson, who came under fire in 2013 for criticizing “some women’s bodies” after the company was forced to recall its see-through black Luon yoga pants. Wilson stepped down as chairman the same year, but remained director. Advent, which first invested in Lululemon in 2005, has

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