Business: The "$300 Million Bustier"; Playboy Buys Australian Lingerie maker

The owner of the Playboy brand said it agreed to purchase an Australian lingerie retailer for $333 million, as the former magazine publisher tries to expand its business beyond licensing its famous bunny-ear logo. Honey Birdette, the lingerie brand PLBY Group Inc. is acquiring, has around 60 physical stores primarily located in Australia, with a few in the U.S. and the U.K. The company expects revenue of more than $73 million for the fiscal year.