Birkenstock sold in €4bn deal
LVMH-backed private equity firm L Catterton recently agreed a deal to purchase the family-owned, German footwear group Birkenstock for a sum of around €4 billion (roughly $4.8 billion).
Financière Agache, the family office of LVMH owner Bernard Arnault, will also invest in the deal alongside L Catterton.
Outlets including the Financial Times have reported that Birkenstock's current owners, Christian and Alex Birkenstock, will maintain a minority stake in the brand.
Oliver Reichert, who (along with Markus Bensberg) became the company’s first chief executive from outside the family in 2012, commented: “In L Catterton and Financière Agache we have found not just shareholders, but also partners for achieving our global growth ambitions.
“They have a great deal of knowhow and excellent access to international markets.”
Birkenstock’s new owners will pursue growth in China and India, as well as expand its e-commerce and direct-to-consumer business, the company said in a statement.
Image: Birkenstock.
