(Bloomberg) -- 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.

The deal furthers Lululemon’s shift to become a more experience-based company and beyond its roots as a traditional retailer. While the Vancouver-based company has always leaned into health -- with many of its existing stores offering free running clubs or yoga classes -- last summer it moved to monetize its workout offerings by opening a Chicago store with a gym.

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