Playboy nears deal to buy sexual wellness chain Lovers: Sources
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Last Updated: Feb 01, 2021, 02:41 AM IST
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Synopsis
The acquisition marks Playboy s latest effort to leverage its famous rabbit silhouette logo to expand in the consumer products arena. It already capitalizes on its brand by selling everything from apparel to art.
In October, Playboy agreed to go public by merging with blank-check acquisition company Mountain Crest Acquisition Corp in a deal that values Playboy at $413 million, including debt.
Playboy Enterprises Inc is nearing a deal to acquire the parent company of sexual wellness chain Lovers as it seeks to grow its lifestyle brand following the shuttering of its eponymous magazine, people familiar with the matter said on Sunday.