Benzinga | Oct 18, 2021 09:02AM EDT

PLBY Group Reports Purchase Of Content-Creator Platform, Dream, For $30M Primarily In Co. Stock

PLBY Group, Inc. (NASDAQ:PLBY) ("PLBY Group"), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced that it had entered into a definitive agreement to acquire Dream, a social content platform that provides creators with tools to interact directly with their fans. The platform and its development team will serve as the technology foundation for the launch of Playboy's new curated and creator-led site, CENTERFOLD.

"We're thrilled to announce our agreement to acquire the Dream platform," said Ben Kohn, Chief Executive Officer of PLBY Group. "Our new creator-led service, CENTERFOLD, will build upon Playboy's long history providing leading voices with a safe platform for creative expression. CENTERFOLD will serve as the home for the world's top creators to interact directly with their fans and to expand their communities and commerce businesses. The platform we are acquiring and its development team will provide a strong technology underpinning to significantly accelerate CENTERFOLD's launch, now expected in the fourth quarter of this year, and to quicken our ability to scale and drive meaningful value to our network of top creators. I've been very impressed by the innovative vision and technology expertise of founders Mike Dow and Mike Berman and the whole Dream technology team, and we're thrilled to welcome them to PLBY Group."

PLBY Group has signed a definitive agreement to acquire 100% of the equity of the company which owns Dream, for a purchase price of up to approximately $30 million to be paid primarily in PLBY Group stock. The transaction is expected to close in the fourth quarter of 2021.

Dream Co-Founders Mike Dow and Mike Berman said, "We couldn't be more excited to enter into this partnership with Playboy, the original platform for creative self-expression and sex positivity. We're very proud of Dream's product and technology foundation and team, and our ability to quickly serve as a scalable platform for a brand and creator network as significant as Playboy's. We're thrilled to join Ben and the whole Playboy team on a mission to build the most innovative tool-kit and the safest service for the world's top creators."

CENTERFOLD will be a curated, creator-led platform dedicated to creative freedom, artistic expression, and sex positivity, as the next evolution of Playboy's long history at the intersection of culture and sex. The platform will arm creators with tools for multiple formats of content creation and direct fan interaction, and provide access to Playboy's vast audience and differentiated content, digital and merchandise capabilities. Visit Centerfold.com for more information and to sign up for updates.