LOS ANGELES—Following the announcement Thursday that PLBY Group had entered into an agreement to sell its chain of Lovers retail stores, Hustler parent company Flynt Management Group (FMG) today announced that it is the buyer.
The acquisition will include the 40 Lovers stores located in California, Washington, Oregon, Tennessee and Texas, along with a nationwide distribution center.
FMG, which includes a range of adult-themed brands, companies and entertainment properties, continues to be overseen by late founder Larry Flynt's widow, Liz Flynt.
Following completion of the acquisition, Lovers will continue to operate as a stand-alone, complementary brand to Hustler Hollywood, which currently operates a distribution center and 59 retail stores throughout the United States. FMG's purchase of Lovers will increase the brand's retail footprint by more than 60 percent across the country and into new geographical regions.
"I simply could not be more excited about this transaction," said Liz Flynt, who serves as chairwoman of FMG. "Purchasing Lovers is the kind of move that my husband Larry liked to make—and I'm so glad that we're both honoring his legacy and pushing our company forward for the future with this acquisition.
"The synergies and geographical disparities between Lovers and Hustler Hollywood will allow us to further expand in the sexual wellness retail space, which is a dynamic and rapidly growing segment of our industry. We're thrilled to welcome the Lovers chain and its employees into the Flynt Management Group following closing, and we can't wait to get to work."
The deal is set to close on or before December 3, 2023.
