The acquisition marks Playboy’s newest effort to leverage its well-known rabbit silhouette emblem to develop within the client merchandise area. It already capitalizes on its model by promoting every part from attire to artwork.
The deal would worth Lovers-parent firm TLA Acquisition Corp at round $25 million and could possibly be introduced as early as Monday, the sources mentioned, requesting anonymity as the main points weren’t but public.
In October, Playboy agreed to go public by merging with blank-check acquisition firm Mountain Crest Acquisition Corp in a deal that values Playboy at $413 million, together with debt.
Upon closing of the deal, which is anticipated in February, Playboy will grow to be a publicly traded firm once more, having been taken non-public in 2011 in a $207 million deal led by its late founder, Hugh Hefner, and personal fairness agency Rizvi Traverse Administration.
Lovers operates on-line in addition to throughout 41 shops in 5 U.S. states, promoting a sexual wellness and well being items together with lingerie and intimacy merchandise.
Playboy final 12 months ceased publication of its journal, ending a virtually seven-decade run on newsstands that started in 1953 with a debut challenge that includes Marilyn Monroe.