Oprah Winfrey and the actress Reese Witherspoon were among new investors in Spanx Inc. as the womenswear brand completed a majority sale to funds managed by Blackstone Inc. The transaction valued Atlanta-based Spanx at $1.2 billion, according to a statement.
The transaction valued Atlanta-based Spanx at $1.2 billion, according to a statement Thursday.
Blackstone and Spanx intend to create an all-female board, and women comprised Blackstone’s entire investment team for the transaction, according to the statement.
Read more/Source: The Middle Market
