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FB Roundup: Associated British Foods, Red Bull, JCB

December 6, 2020

Second UK lockdown cost Weston family’s Primark $579 million in sales, Red Bull energises Yoovidhya family of inventor with $257 million payout, Lord Bamford gives JCB staff an extra holiday to mark 75th anniversary.

Second lockdown costs Weston family’s Primark $579 million in sales

The Weston family-controlled food and retail giant Associated British Foods estimates it lost £430 million ($579 million) in sales while its high street fashion retailer Primark was closed during the latest coronavirus lockdown.

Playboy founder finally regains control of company

January 11, 2011

Hugh Hefner, founder of iconic consumer brand Playboy, has finally succeeded in his bid to regain control of the company he founded nearly 60 years ago.

Playboy Enterprises Inc announced on 10 January that it has agreed to accept the offer from Icon Acquisition Holdings, a limited partnership controlled by Hefner, to take the company private for a total of $207 million.

Hefner's ambition to control company helped by results

August 6, 2010

Hugh Hefner’s efforts to take full control of Playboy Enterprises Inc were buoyed by the latest results of the Chicago-based publishing company.

Hugh Hefner's efforts to take full control of Playboy Enterprises Inc were buoyed by the latest results of the Chicago-based publishing company.

Although revenues at Playboy dropped from $62 million for Q2 2009 to $56 million for the same period this year, net losses shrunk to $5.4 million from $8.7 million in 2009. The company's improved financial position was helped by the closing of the New York office and job cuts.

Friend Finder's bid for Playboy makes concessions to Hefner

July 19, 2010

Friend Finder Networks has made a $210 million bid for family-controlled Playboy Enterprises Inc, which allows the company’s founder, octogenarian High Hefner, to retain a level of control.

Friend Finder Networks has made a $210 million bid for family-controlled Playboy Enterprises Inc, which allows the company's founder, octogenarian High Hefner, to retain a level of control.

In an acknowledgement of the importance of the founding family to the Playboy brand, the offer includes a clause that allows Hugh Hefner to retain editorial control at the magazine and remain in the famous Playboy Mansion.

Hefner in potential Playboy bidding war

July 13, 2010

Hugh M Hefner, the founder of the iconic Playboy brand, yesterday made a bid for the remaining shares in Playboy Enterprises Inc he does not already own in a bid to take the company private.

In a proposal letter to the Playboy board, Hefner offered $5.50 per share in cash to acquire all outstanding Class A and Class B common stock, valuing the company at $185 million. He plans to partner with Traverse Management LLC to finance the deal.

Playboy turns to non-family management

June 2, 2009

Playboy Enterprises, the Hefner family controlled media and lifestyle company, has appointed a non-family CEO following the departure of Christie Hefner in January this year.

Scott N Flanders, 52, is the board's choice to replace Jerome Kern who stood in following Hefner's departure. He joins Playboy from media company Freedom Communications where he served for three years as president and CEO. According to a statement, he significantly expanded interactive revenues, established key partnerships and streamlined the organisation.

Christie Hefner to step down as Playboy chairman and CEO

December 9, 2008

Christie Hefner has announced that she is to step down as chairman and CEO of Playboy Enterprises, the entertainment company famous for the adult magazine set up by her father Hugh.

She will stay on as CEO until the end of January 2009 and will remain as a member of the board until a new CEO is found.