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FNK IR handles PLBY Group as it rejects a $100M bid by Cooper Hefner and his investment firm for the rights to its Playboy brand.
The unsolicited offer “substantially undervalues” Playboy’s assets, according to PLBY CEO Ben Kohn.
While PLBY’s board understands and is appreciative of the interest in Playboy’s “unparalleled brand,” it will continue to pursue a focused and “asset-light model” to create long-term value for stakeholders.
Hefner is the son of Playboy founder, Hugh. He launched the bid due to his "personal connection" to the brand. The senior Hefner died in 2017 at the age of 91.
PLBY posted a $9.2M operating loss on Q2 revenues of $24.8M.
FNK IR managing director Rob Fink and partner Matt Chesler represent PLBY.
Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
Qualcomm has recruited Brett Simpson for the senior VP-IR slot at the San Diego-based wireless technology company.
Reevemark handles Eddie Bauer LLC as the retailer inks a Chapter 11 restructuring pact that has it conducting liquidation sales at its US and Canadian stores while working to find a buyer for either all of or part of the chain.
Prosek Partners hires FTI Consulting vet David Roady to build and deepen its relationships in the corporate sector, particularly with chief communications officers and C-suite executives.
Kekst CNC handles Crestview Partners as the private equity firm acquires Tailwind Hospitality, operator of food, beverage and retail concessions in non-hub and regional airports, from Palladin Consumer Retail Partners.
