Hefner Capital offers $100M plus equity for Playboy brand, Bloomberg reports

Hefner Capital, a firm led by Cooper Hefner, son of Playboy founder Hugh Hefner, has expressed interest in acquiring the Playboy brand from PLBY Group (PLBY), people with knowledge of the matter told Bloomberg’s Gillian Tan. Cooper Hefner made the non-binding overture for all of Playboy’s brand assets, which includes intellectual property associated with Playboy, to PLBY’s board, led by Chairman Suhail Rizvi, on Monday, according to a correspondence reviewed by Bloomberg News. The proposal, which is subject to due diligence among other considerations, involves Hefner forming an entity to purchase Playboy’s brand assets from PLBY for a cash payment of $100M as well as a 10% equity interest in the new entity, the report noted.