GlobeNewswire·Feb 9, 2026, 8:51 AM ET

Playboy Signs $122 Million Deal with United Trademark Group to Accelerate the Growth of its China Business

Playboy Inc. entered definitive agreements to sell a 50% interest in its China business joint venture to UTG Brands Management Group.
Upon closing, UTG will manage all operational aspects of Playboy's business in China, Hong Kong, & Macau.
Playboy will receive a total of $122 million in cash, consisting of a $45 million acquisition payment, $67 million in guaranteed minimum distribution payments over eight years, & $10 million in brand support payments over three years.
UTG has paid a $9 million deposit, with the initial closing expected by March 31, 2026, subject to customary conditions.
The transaction includes a minimum of $50 million in proceeds allocated for debt reduction to further de-leverage the balance sheet.
Playboy expects the deal to be immediately accretive to earnings due to the anticipated reduction in interest expense.
Playboy retains its remaining 50% ownership in the joint venture, expecting incremental annual distributions as UTG grows the business.
The deal advances Playboy's asset-light strategy by simplifying its operating model while maintaining a stake in a key consumer market.