June 26, 2023

(Paris, France) June 26, 2023 – Kering Beauté has announced that it has signed an agreement to acquire 100% of Creed from funds controlled by BlackRock Long Term Private Capital Europe and current Chairman Javier Ferrán. Creed joins Kering Beauté’s portfolio of renowned luxury brands and provides Kering Beauté with the required scale and an outstanding financial profile, as well as a platform supporting the future development of other Kering Beauté fragrance franchises, and leveraging Creed’s global distribution network. The all-cash transaction is expected to close in the course of H2 2023, subject to clearance by the relevant competition authorities. FLG partner Monica Stevenson, interim CFO at Creed, assisted.

Full press release is here.