Advent news and archive

Australian label Zimmermann sold to private equity firm Advent

US private equity investor Advent International has acquired a majority stake in Australian luxury label Zimmermann. Advent takes over from Milan-based investment fund Style Capital, which took control of Zimmermann back in 2020. Style Capital and the Zimmermann family will retain a significant minority shareholding following the deal....

Fashion

Lululemon founder Dennis Wilson to sell half his company stake

Canadian yoga apparel maker Lululemon announced on Thursday that its founder Dennis 'Chip' Wilson has agreed to sell approximately half of his 27.7 percent stake in the company to private equity firm Advent International for roughly 845 million dollars. Wilson has also agreed not to launch a proxy fight or a hostile takeoverof the company. As...