BlackRock Long Term Private Capital to Invest in Luxury Fragrance Company Creed in Partnership With Industry Leading Executive Javier Ferrán
BlackRock, Inc. (BLK)
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Source: Business Wire
LONDON--(BUSINESS WIRE)--BlackRock Long Term Private Capital announced today that it has reached an agreement with Mr. Olivier Creed to become the new majority shareholder in Creed, his family’s multi-century old luxury fragrance company. Industry leading executive Javier Ferrán will become chairman of the company’s board of directors and join as an investor.Mr. Ferrán, who has extensive experience with niche luxury brands and in working with European family-owned businesses, assumes his responsibilities at close of the transaction. He will work closely with Mr. Creed, who will continue as the master perfumer of the fragrance house.The partnership with Mr. Ferrán and the Creed family, including Mr. Creed’s son Erwin, is BlackRock LTPC’s first investment in Europe and reflects its unique proposition to founder-led and family-owned companies who value a longer-term investment horizon.Mr. Creed said:“To have a business leader of Javier’s calibre join the Creed family is a significant
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