Lululemon Athletica Inc. founder Chip Wilson agreed to sell half his stake in the yogawear retailer to Advent International Corp. for $845 million and forgo pursuing a buyout for at least year, ending a fight with the board.

Wilson, who had voiced his dissatisfaction with the company’s direction after stepping down as chairman, also agreed with Advent to name David Mussafer and Steve Collins to the board, according to a statement yesterday. The stake sold represents about 13.9 percent of the shares outstanding.

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