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Forma Brands, the parent company of Morphe and Lipstick Queen, amongst others, has been acquired by lenders from bankruptcy.
Along with Jefferies Finance LLC, funds managed by Cerberus Capital Management LP, and FB Intermediate Holdings LLC, the corporate’s latest owners now also include &vest, a consumer brand investment and operational platform.
Thomas Brady, president of Jefferies Finance, said, “On behalf of your entire investor group, we're pleased to finish the acquisition of Forma Brands, enabling the corporate to maneuver forward ready of economic strength. With a latest capital structure that features additional liquidity and fewer debt, Forma Brands is poised to return to growth and increase profitability while it continues providing consumers across the globe with thoughtfully chosen beauty products.”
As a part of the...
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The proposal for Forma Brands, the parent company of Morphe and Lipstick Queen amongst others, to be acquired by lenders has been approved by a bankruptcy court, legal documents showed.
Forma Brands filed for voluntary Chapter 11 bankruptcy in mid-January in a Delaware court because the business struggled to tread water. On the time, the beleaguered company entered right into a take care of lenders including Jefferies Finance and Cerberus Capital Management, under which substantially all of Forma Brands’ assets, including wholesale operations, online platforms and Morphe stores (all now shuttered), were set to be acquired.
The proposed deal received court approval this week for $690 million in debt relief.
Parent company Forma, which didn't immediately reply to request for comment Thursday,...
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Forma Brands, the parent company of Morphe, Lipstick Queen and Jaclyn Hill’s Jaclyn Cosmetics, is considering filing for Chapter 11 bankruptcy, sources confirmed.
People acquainted with the method told WWD that such a move is into account, but stressed that nothing is for certain and that other options are on the table, including out of court agreements with creditors.
A spokesperson for Forma said: “Forma Brands is engaged in constructive discussions with our financial stakeholders regarding ways to strengthen the corporate financially and enable us to bolster our deal with the opportunities we see ahead for our brands. We're excited concerning the products we are going to proceed to bring to our customers.”
Majority owner, private equity firm General Atlantic, declined to comment. The...
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