BlackRock Long Term Private Capital completed the acquisition of a majority stake in Creed.

BlackRock Long Term Private Capital, a private equity fund of BlackRock, completed the acquisition of a majority stake in luxury fragrance company Creed. Financial terms were not disclosed. As part of the transaction, Javier Ferrán, chairman of Diageo will become chairman of the company’s board of directors and join as an investor. "Both Javier and our new partners at BlackRock LTPC are ideal partners for Creed given their collaborative approach to working with their companies and their long-term orientation. I also look forward to continuing to work with all our staff, suppliers and distributors, and I know that they will continue to share in our success,” Olivier Creed, Creed CEO.