Deals
Lululemon to Buy Fitness Company Mirror for $500 Million
- Deal comes after apparel retailer took a small stake last year
- Coronavirus pandemic has increased interest in home exercise
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Yoga-pants retailer Lululemon Athletica Inc. agreed to buy Mirror, a maker of in-home fitness equipment, for $500 million, broadening a partnership that began last year as exercise increasingly moves away from traditional gyms.
Mirror will operate as a standalone company within Lululemon and retain its chief executive following completion of the deal, the companies said Monday in a statement. The purchase will be paid from Lululemon’s primary sources of liquidity, including $800 million in cash and $700 million in credit facilities.