Spanish company buys minority share in Eric Buterbaugh Florals (EB Florals)
Privately-owned Spanish company Puig has acquired a minority stake in fragrance brand Eric Buterbaugh Florals (EB Florals).
The company aims to support the growth of EB Florals by building its brand and expanding deployment over the next several years.
EB Florals was created by Eric Buterbaugh and Fabrice Croisé in 2015. The brand sells a range of eight unisex scents and six candles inspired by Buterbaugh’s background in floral design. Up until this month, EB Florals was only available to buy at the brand’s flagship boutique in West Hollywood, LA in the US. However, in early May consumers will be able to buy the fragranced skus at Saks Fifth Avenue in Beverly Hills, San Francisco, Las Vegas, Houston and Toronto, as well as Bergdorf Goodman in New York.
The investment in EB Florals follows an acquisition trend observed at Puig of late. The company has been investing in niche perfumery brands consistently over the past year. In January 2015, Puig snapped up Penhaligon’s and L’Artisan Parfumeur. It also closed the deal on Jean Paul Gaultier in January this year.
Marc Puig, Chairman and CEO of Puig, said: “We have an eye for spotting and developing creative and innovative perfumery. We see this partnership with EB Florals as an opportunity to expand our presence in the exclusive high-end fragrance category, where we already operate through our owned niche brands, Penhaligon’s and L’Artisan Parfumeur, acquired last year.”
Meanwhile, Croisé added: “Puig will bring to EB Florals its market know-how, as one of the key players in the fragrance business worldwide, as well as its expertise in and respect for the development of avant-garde concepts and innovative fragrances.”