PLBY Group (Playboy) → Honey Birdette
completedDeal announced2021-06-29
BuyerPLBY Group (Playboy)
SellerHoney Birdette
SectorLingerie
ValueA$462.0M
Deal typeM&A
PLBY Group agreed to acquire 100% of Australian luxury lingerie brand Honey Birdette for approximately US$333 million in cash and stock, completing 10 August 2021. Honey Birdette generated US$71m revenue and US$17.6m net income in the twelve months to June 2021.
Why the buyer wanted it
PLBY wanted to accelerate its direct-to-consumer growth strategy via an established, profitable luxury lingerie brand.
Why the seller agreed
Not publicly disclosed.
Stock reaction
Not applicable — Honey Birdette was privately held.
Deal mechanics
Seller's advisors
Morrison Foerster (legal adviser to Honey Birdette)
Deal structure
US$235m cash plus 2.16 million PLBY Group shares