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Cases & Deals

February 27, 2020

King & Spalding Advises on Creed Fragrance's Sale to BlackRock Long Term Private Capital

King & Spalding has advised Olivier Creed, Master Perfumer and direct descendant of the founder of centuries-old luxury fragrance company Creed, on the pending sale of a majority stake in the Creed business to BlackRock Long Term Private Capital.  Established in 1760 in London by Henry Creed, the House of Creed has become one of the world’s leading perfume houses. The transaction represents BlackRock Long Term Private Capital’s first investment in Europe, and second globally, and reflects its unique proposition to founder-led and family-owned companies who value a longer-term investment horizon. Javier Ferran, the chairman of Diageo plc, who has extensive experience with niche luxury brands and in working with European family-owned businesses, will become chairman and an investor in Creed as part of the deal. More information on the deal can be found here.