Another Suitor in Talks to Buy Playboy

Nov 13, 2009 9:45 AM PST
CHICAGO — Add former Playboy executive Jim Griffiths and Golden Gate Capital to the list of suitors interested in purchasing the adult entertainment giant.

Griffiths and Golden Gate Capital are talking jointly with Playboy Enterprises to sell itself for about $300 million, a source familiar with the matter told Reuters Friday.

San Francisco-based Golden Gate Capital primarily invests in software and IT services, semiconductor and electronics companies, security companies, financial services, retail stores and restaurants.

Some of its portfolio includes the newly purchased Eddie Bauer chain, Romano’s Macaroni Grill, Express, Sierra Systems and Max Media.

The company also is in separate talks with Iconix, which owns and licenses brands such as London Fog, Danskin, Candies, Joe Boxer and Rocawear.

Iconix reportedly wants to bring in a publishing partner to buy Playboy magazine while it would keep the licensing part of the company.

Playboy's shares were up 6.1 percent at $4.32 in Friday's trading on the New York Stock Exchange.

Playboy stock rose 42 percent on Thursday, following initial news of the talks with Iconix.

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