Playboy Spirits Joint Venture Closes More Than $13 Million in Funding to Accelerate Growth in the Multi-Billion Dollar Alcohol Beverage Category
Retrieved on:
Thursday, January 12, 2023
Playboy Spirits is owned 40% by a wholly owned subsidiary of PLBY Group and 60% by XLV.
Key Points:
- Playboy Spirits is owned 40% by a wholly owned subsidiary of PLBY Group and 60% by XLV.
- Conversion of the Notes could result in the dilution of Playboy Spirits’ ownership of the Operating Subsidiary by up to 50% but would not reduce Playboy Spirits’ managerial control of the business.
- Playboy Spirits holds a trademark license to use Playboy branding and artwork with royalties payable to Playboy from the sales of all Playboy Spirits products.
- In 2023, Playboy Spirits expects to release limited-edition spirits in the U.S. and Asia, and plans to enter the ready-to-drink canned beverage category.