Blackstone to take majority stake in Spanx in deal valued at $1.2B

  • Blackstone (BX) will become the first outsider to invest in Spanx, the firm that reshaped women's shapewear, when it acquires a majority stake in the company founded by Sara Blakely in a deal valued at $1.2B.
  • Blakely will keep a significant ownership stake in Spanx and will become the company's executive chairwoman when the deal closes.
  • The transaction will enable Spanx to accelerate its digital transformation and e-commerce channel, increase its global footprint, and expand its product line. Blackstone (NYSE:BX) will make the investment through its Blackstone Growth and Blackstone Tactical Opportunities businesses.
  • She founded the company in 2000, a couple years after cutting off the feet of her control-top pantyhose in order to create smooth look for her cream-colored pants. The company has since expanded into bras, men's compression undershirts, and activewear.
  • The transaction was led by an all-female Blackstone (BX) investment team, and the companies plan to form an all-female board of directors at Spanx.

    For this year the company, based in New York City revenue will be around 10.22 billion USD. This is according to the average of the analysts' estimates. This is quite more than 2021's revenue of 6.1 billion USD.

    Historical revenues and results Blackstone Group Inc plus estimates 2021

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    The analysts expect for 2021 a net profit of 5.3 billion USD. The majority of the analysts expects for this year a profit per share of 4.26 USD. The price-earnings-ratio equals 32.31.

    For this year the analysts expect a dividend of 3.65 USD per share. Thus the dividend yield equals 2.65 percent. The average dividend yield of the health care companies equals a poor 1.27 percent.

    Based on the current number of outstanding shares Blackstone Group Inc 's market capitalization 92.37 billion USD. 162

    At 20.54 the stock trades 1.37 percent higher at 137.63 USD.

    Historical stock prices Blackstone Group Inc from 2007 till 2021

    stock graphs blackstonegroupinc

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