Clifford Chance advises BlackRock Long Term Private Capital and Javier Ferrán on sale of luxury fragrance house Creed
27 June 2023
- , Shimin Lee, , Megan Hodges, Stephen Reese, Nicholas Kinnersley, Richard Kalaher, Sonia Gilbert, Neil Barlow, , Jennifer Storey, Jonathan Blondeel, , , Lauren Harris, Katia Gauzès, ,
- London, New York, Luxembourg
Clifford Chance advises BlackRock Long Term Private Capital and Javier Ferrán on sale of luxury fragrance house Creed
International law firm Clifford Chance has advised BlackRock Long Term Private Capital (BlackRock LTPC) and Creed Chairman, Javier Ferrán on the sale of the luxury fragrance business, Creed, to global luxury group Kering. The all-cash transaction is expected to close in the course of H2 2023, subject to clearance by the relevant competition authorities.
BlackRock LTPC's private equity strategy is focused on investing in high-quality businesses and value creation through active collaboration with management teams. The deal follows on from Clifford Chance's role, with a team led by Christopher Sullivan and Shimin Lee advising Blackrock LTPC and Javier Ferrán when it acquired Creed in 2020.
The cross practice and multi-jurisdictional team was led by partner and London head of the Private Equity team Christopher Sullivan, and senior associate Shimin Lee, with support from associates Lianne Mizrachi, Megan Hodges and Lewis Barton. Others advising on the deal in London included partner Stephen Reese and associate Uche Eseonu (IP), partners Nicholas Kinnersley (Finance), Richard Kalaher and Sonia Gilbert (Tax), as well as partner Simon Persoff and associate Linda Agaby (Tech). Private Equity partners Neil Barlow and Laurent Schoenstein advised in New York and Paris respectively.