Morrison & Foerster advised Honey Birdette, the fast-growing, luxury lingerie and lifestyle brand, and its sellers in connection with the company’s sale to PLBY Group, Inc. (Nasdaq: PLBY) (“PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy. On June 29, 2021, PLBY Group signed a definitive agreement to acquire 100% of the equity of Honey Birdette for a purchase price of approximately AUD439 million (or approximately USD333 million million in cash and stock,) subject to customary adjustments. The transaction is expected to close after the satisfaction of customary closing conditions.
Established in 2006, Honey Birdette is a female-founded, Australia-based business that has significantly grown its consumer reach and operations to North America and Europe. Building upon its existing digital commerce and brick-and-mortar retail platform, Honey Birdette is focused on expanding its retail footprint across the U.S., UK, and Europe. In the U.S., new flagship stores will open in the coming months in Dallas, Miami, and New York.
The MoFo deal team advising Honey Birdette and its sellers in the transaction is led by Boston corporate of counsel Kevin Madden, together with New York corporate associates Stephanie Ference, Vonnie Nam, and Tyler Miller.