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Birkenstock sold to group backed by Europe's richest man

Birkenstock sold to group backed by Europe s richest man
By
Hanna Ziady, CNN Business
Published Feb 27, 2021 1:30:35 AM
enablePagination: false
Photo courtesy: John MacDougall/AFP/Getty Images
(CNN) German footwear brand Birkenstock is selling a majority stake to L Catterton, a private equity firm backed by Bernard Arnault s LVMH.
The company said in a statement on Friday that L Catterton affiliates including Arnault s family investment company, Financière Agache, will also invest in the maker of the iconic flat sandals. Arnault is Europe s richest person, with an estimated net worth of $117 billion, according to the Bloomberg Billionaires Index.
In L Catterton and Financière Agache we have found not just shareholders, but also partners for achieving our global growth ambitions, said CEO Oliver Reichert, who is one of the company s first leaders to come from outside the Birkenstock family. ....

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Birkenstock Gets Reported €4 Billion Valuation in L Catterton Deal

Birkenstock Gets Reported €4 Billion Valuation in L Catterton Deal
businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.

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LVMH's L Catterton to acquire Birkenstock

Details of the agreement and the acquisition price have not been disclosed. The footwear retailer’s owners Christian and Alex Birkenstock will keep a minority stake.
“[This is] the next logical step for Birkenstock to facilitate further strong growth in future growth markets such as China and India, the company said. In Europe and America, Birkenstock will further expand its leading market position by investing in the German sites and expanding production, logistics and sales operations. At the same time the company plans to invest in the further development of its direct-to-consumer business and the expansion of its ecommerce platforms.” ....

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LVMH-backed fund buys majority stake in Birkenstock

LVMH-backed fund buys majority stake in Birkenstock
Reuters
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Birkenstock has agreed to sell a majority stake to LVMH-backed private equity firm L Catterton, it said on Friday, in a deal that brings the maker of comfy, blocky sandals in the orbit of the French luxury powerhouse.
The family-owned German company did not disclose financial details of a deal it said would help it to grow in China and India as well as expand its online business. ....

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Birkenstock has been bought by a LVMH-backed private equity fund — Quartz

Birkenstock has been bought by a LVMH-backed private equity fund — Quartz
qz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from qz.com Daily Mail and Mail on Sunday newspapers.

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