Pat McGrath Labs Receives $60M Investment From Eurazeo

Pat McGrath Labs — the beauty operation of makeup artist Pat McGrath — has received a $60 million minority investment from Eurazeo Brands. Terms of Eurazeo’s investment were not disclosed, but industry sources said the firm is estimated to have taken a 5 to 8 percent stake in the business at a valuation of more than $1 billion. Pat McGrath Labs has received $88 million in external funding, including capital it received from One Luxury Group, which is also said to have a minority stake, in 2016. Industry sources said the business is growing quickly and is expected to do more than $60 million in retail sales for 2018. Speculation in the market is that Pat McGrath Labs will be a target for large, strategic beauty players in the next 18 to 24 months. Eurazeo Brands chief executive officer Jill Granoff noted the firm’s interest in the business was driven by McGrath herself, saying that her “vision, talent and trailblazing history in the beauty industry have set Pat McGrath Labs up to be one of the most authentic and innovative makeup brands to ever come to market.” Eurazeo ceo Virginie Morgon added that the firm looks “forward to joining Pat McGrath

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