Birkenstock valued at $9 billion
12/10/2023
The IPO raised around $1.48 billion based on 32.3 million shares sold and values the company at approximately $9.3 billion on a fully diluted basis.
The company's public debut is set to raise about $1.5 billion. One-third of the proceeds will go to the company to repay its debt, while the rest will go to L Catterton, its private equity owner.
L Catterton, which is backed by French luxury fashion house LVMH, purchased a majority stake in Birkenstock for €4 billion in 2021. This was the first time Birkenstock received private equity financing.
Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers. The Birkenstock family ran the business for six generations after its founding.
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