Blackstone Buys Majority Stake in Spanx, Valuing It at $1.2 Billion

The ticker and trading information for Blackstone Group is displayed on the floor of the New York Stock Exchange on April 4, 2016. Brendan McDermid/Reuters

Investment firm Blackstone Inc. would buy a majority stake in Spanx, valuing the shapewear maker at $1.2 billion, the companies said on Wednesday.

The deal will allow Spanx to further expand globally and help it strengthen its online business, they added.