Arnault family’s L Catterton in rumoured Birkenstock takeover bid Birkenstock, the sixth-generation family-owned business and the German footwear industry’s largest employer, could be the next $4.8 billion acquisition by the Arnault family’s private equity firm. The comfortable “footbed” sandal maker, which traces its roots back to 1774, two years before the United States declared its independence, is the subject of an apparent bidding war between L Catterton and CVC Capital Partners. L Catterton is the largest consumer-focused private equity firm in the world, with $23 billion of assets under management. The Connecticut-headquartered firm was formed in 2016 from private equity firm Catterton, luxury goods giant LVMH and Groupe Arnault, the family holding company of billionaire principal Bernard Arnault. LVMH’s portfolio of 75 brands includes Louis Vuitton, Christian Dior and, most recently, the US jeweller Tiffany and Co.
How Birkenstock Became a Luxury Target
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PARIS (Reuters) - So what now for Carrefour, forbidden from wedding its wealthy Canadian admirer, just as it needs to renovate? Will fate find a more suitable suitor, perhaps closer to home?
FILE PHOTO: A Carrefour logo is seen on a Carrefour Hypermarket store in Antibes, France May 6, 2019. REUTERS/Eric Gaillard
The retailer’s proposed marriage to Alimentation Couche-Tard of distant Quebec was always likely to raise the hackles of France, fiercely protective of a favoured private-sector child.
Indeed when Carrefour boss Alexandre Bompard first met Couche-Tard Chairman Alain Bouchard face to face, on Jan. 8 in Paris, he made it clear a deal would never fly without sweeteners for the French government, according to two people with knowledge of the meeting.
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It’s a double-yolker for the Parisian food brand, Chefclub as the firm secures a new financing round of 14 million Euros and the creation of a new cookware line in partnership with the kitchen ware experts, Tefal.
It’s First Bridge Ventures chairman, Adrian Cheng, who leads the round the accelerate Chefclub’s international growth, along with SEB Alliance, Group SEB’s corporate venture arm, as well as existing investors Fleur Pellerin’s Korelya Capital and Groupe Arnault’s Aglae Ventures to bring in the 14 million Euro funding round.
Launched in Paris in 2016 by three brothers, Thomas, Jonathan, and Axel Lang, Chefclub has been able to leverage the power of social media to continually grow, strengthen its brand, and create a large audience while also transforming its video viewers into customers.