PARIS — In a drive to expand its presence in prestige perfumery, Puig has acquired Penhaligon’s and L’Artisan Parfumeur from Fox Paine & Co. LLC.
Terms of the deal, which takes effect today, were not disclosed.
Penhaligon’s was founded in 1870, in London, and holds two Royal Warrants. Its most iconic fragrance, created in 1902 for the Duke of Marlborough, is Blenheim Bouquet. Penhaligon’s has its own stores worldwide.
L’Artisan Parfumeur, dating from 1976, operates boutiques in France and boasts a global presence.
Both Penhaligon’s and L’Artisan Parfumeur will continue being run by the current team overseen by Lance Patterson. In July, he had been appointed chief executive officer and a member of the board of directors at Cradle Holdings Ltd., parent of Penhaligon’s and L’Artisan Parfumeur.
“This acquisition firmly positions Puig in the growing exclusive, high-end perfumery category,” the company stated.
With the purchase, Puig, which already holds in its fragrance stable brands such as Paco Rabanne, Nina Ricci, Carolina Herrera and Jean Paul Gaultier, also joins the sizzling race to bulk up muscle in the category via niche brands.
The Estée Lauder Cos. Inc. has been leading the charge on that front. As reported, late last year, in less than one month, the company snapped up tony labels Editions de Parfums Frédéric Malle and Le Labo.