Consumer

Bankrupt Morphe Owner Acquired by Lenders for $690 Million

Jefferies Finance, Cerberus forgive debt in exchange for firm
Once fast-growing makeup company entered bankruptcy in January

A Morphe store opening in 2018 featuring a promotion for Jaclyn Hill, one of influencers who helped sales hit $400 million in 2019.Photographer: David Becker/Getty Images for Morphe

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Kevin Simauchi

March 29, 2023 at 4:41 PM UTC

This article is for subscribers only.

Forma Brands, the bankrupt owner of the Morphe makeup brand, reached an agreement with lenders Jefferies Finance LLC and Cerberus Capital Management to be acquired in exchange for $690 million in debt relief, according to a court filing.

No better bids emerged during the company’s Chapter 11 proceedings, bankruptcy court papers show.