Brief: Playboy Expands Direct-To-Consumer And Retail Store Reach With Deal To Acquire Leading Sexual Wellness Omni-Channel Retailer

ConnectM Technology Solutions

01/02/2021 13:03

Feb 1 (Reuters) - Mountain Crest Acquisition Corp  MCAC.O :
    * PLAYBOY EXPANDS DIRECT-TO-CONSUMER AND RETAIL STORE REACH
WITH DEAL TO ACQUIRE LEADING SEXUAL WELLNESS OMNI-CHANNEL
RETAILER
    * PLAYBOY ENTERPRISES - ENTERED INTO A DEFINITIVE AGREEMENT
TO
ACQUIRE TLA ACQUISITION CORP., PARENT COMPANY OF LOVERS FAMILY
OF STORES
    * PLAYBOY ENTERPRISES - SIGNED A DEFINITIVE AGREEMENT TO
ACQUIRE
100% OF THE EQUITY OF LOVERS FOR A PURCHASE PRICE OF
APPROXIMATELY $25M OF CASH
    * PLAYBOY ENTERPRISES - LOVERS IS EXPECTED TO CONTRIBUTE
APPROXIMATELY $45MLN OF REVENUE OVER NEXT TWELVE MONTHS
    * PLAYBOY ENTERPRISES - UPON DEAL CLOSE, LOVERS WILL
IMMEDIATELY
BEGIN SELLING PLAYBOY'S SEXUAL WELLNESS PRODUCTS

Source text for Eikon:  ID:nGNX37tZVz 
Further company coverage:  MCAC.O 

 ((Reuters.Briefs@thomsonreuters.com;))