Gucci Owner Acquires Creed to Expand in Luxury Fragrances (2)

Kering SA, the owner of Gucci, agreed to buy perfume maker Creed in an all-cash deal as the luxury conglomerate expands in the market for high-end fragrances.

Kering’s beauty unit is buying 100% of Creed from funds controlled by BlackRock Inc. and current Chairman Javier Ferran, the Paris-based group said in a statement Monday. Further terms weren’t disclosed. Kering shares rose 1.5% in early trading in Paris on Tuesday.

Creed was established in 1760 by James Henry Creed as a tailoring house serving European royal families. It still has family involvement.

The French group said it plans to “unlock” ...