Kevin Mayer and Tom Staggs. Witherspoon and Hello Sunshine chief executive Sarah Harden will join the board of the new company and will continue to operate the business.
According to The Wall Street Journal, which first reported the sale, Blackstone is spending more than $500 million in cash to purchase shares from existing Hello Sunshine investors, including AT&T and Laurene Powell Jobs’ Emerson Collective.
Additionally, the “Legally Blonde” actress and some Hello Sunshine executives and investors will roll over the remaining equity into ownership stakes in the new company Blackstone is forming.“Today marks a tremendous moment for Hello Sunshine,” Witherspoon said in a statement Monday.
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