Kering Beauté Acquires Creed
June 26, 2023
Kering Beauté, the beauty division of Kering, has signed an agreement to acquire 100% of Creed from funds controlled by BlackRock Long Term Private Capital Europe and current Chairman Javier Ferrán. The all-cash buyout (expected to close in H2 2023 subject to regulatory approvals) brings the heritage luxury fragrance house — which generated more than €250 million for the year ended March 31, 2023 and operates ~36 branded stores and ~1,400 doors globally — into Kering's luxury portfolio to accelerate Creed's geographic and category expansion, notably in China and Travel Retail.
- Buyers
- Kering Beauté (Kering)
- Targets
- Creed
- Sellers
- BlackRock Long Term Private Capital Europe, Javier Ferrán
- Industry
- Consumer Products
- Location
- Île-de-France, France
- Transaction Type
- Buyout
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