Blackstone Acquires Majority Stake in Spanx

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Blackstone Acquires Majority Stake in Spanx

Blackstone bought a majority stake in women’s shapewear company Spanx that valued the company at $1.2 billion. The private-equity firm said that it sees the opportunity to continue the digital growth of the business and help the company expand globally and into other categories. Spanx founder, Sara Blakely, will remain a significant shareholder and, at closing, will become executive chairwoman, according to the press release.