WWD – 26/02/2020

After more than 250 years under family ownership, Creed fragrances has been sold to BlackRock Long Term Private Capital and Javier Ferrán, the Spanish businessman and chairman of Diageo […]

Olivier Creed, a direct descendant of James Henry Creed, who founded the original business during the reign of King George III of England, said given the perfumer’s history, “it was critical that, when the time was right, I was able to choose the best partners who would be able to maintain our heritage as a luxury family business while helping us reach more people around the world.” […]

Ferrán, who has long worked with niche luxury brands and European family-owned businesses, will assume his responsibilities when the transaction closes.

Before that, he spent more than 20 years at Bacardi, ultimately serving as president and chief executive officer. […]

The investment is BlackRock LTPC’s first in Europe, and a spokesman said the deal reflects the organization’s “unique proposition to founder-led and family-owned companies that value a longer-term investment horizon.” […]