$LULU announced that it has entered into a definitive agreement to acquire MIRROR, a leading in-home fitness company that created an interactive workout platform that features live and on-demand classes, for a purchase price of $500M. MIRROR offers weekly live classes and thousands of on-demand workouts as well as immersive one-on-one personal training. Calvin McDonald, Chief Executive Officer, commented, “In 2019, we detailed our vision to be the experiential brand that ignites a community of people living the sweatlife through sweat, grow and connect. The acquisition of MIRROR is an exciting opportunity to build upon that vision, enhance our digital and interactive capabilities, and deepen our roots in the sweatlife. We look forward to learning from and working with Brynn Putnam and the team at MIRROR to accelerate the growth of personalized in-home fitness.” $LULU liquidy: $800M in cash, $400M revolver & a new 1-year, $300M revolver.
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