Fitness products provider Tivity Health said on Tuesday it had agreed to be bought by investment firm Stone Point Capital for $2 billion in cash.

Tivity said its stockholders would receive $32.50 per share, a less than 1% premium to stock's closing price of $32.25 on Monday.

Tivity Health will become a privately held company after the deal completion, which is expected in or prior to the third quarter, the company said.

Richard Ashworth will remain the chief executive officer of Tivity Health, the company said.

(Reporting by Amruta Khandekar; Editing by Amy Caren Daniel)