GDA Luma closes Pat McGrath Labs Chapter 11 exit; Dame Pat's equity transferred

April 17, 2026 — a U.S. Bankruptcy Court in the Southern District of Florida approved GDA Luma's acquisition of Pat McGrath Labs and the brand's exit from Chapter 11 (filed January 27, 2026). Total financing: $65M ($10M DIP + $20M post-emergence working capital, later increased). Dame Pat McGrath's equity transferred to GDA Luma; she stays as Chief Creative Officer with a reduced, unspecified stake. The case sits alongside Olaplex (Henkel acquisition at ~95% IPO discount) and Mally Beauty (closed by AS Beauty) as the third high-profile distressed exit in 2025–2026.