Birkenstock: We were Looking for A Partner for the Next 250 Years
The holding company L Catterton and the family holding company Financiere Agache acquire the majority of Birkenstock. CEO Reichert explains why the new co-owners are the best possible partners for the accelerated growth path.
The American-French investment company L Catterton and the family holding company Financiere Agache have acquired the majority in the German sandal manufacturer Birkenstock. The two only heirs of the shoe manufacturer from Linz am Rhein, Alexander and Christian Birkenstock, sell the majority of the shares, but remain invested as minority shareholders. The Birkenstock management confirmed this to the Handelsblatt.
The parties have agreed not to disclose the purchase price and other details of the transaction. The company valuation is likely to be a little more than four billion euros.
L Catterton belongs to the sphere of influence of the global luxury goods company LVMH. Financiere Agache is the private investment company of Bernard Arnault, the CEO of LVMH.
Birkenstock’s managing director, Oliver Reichert, told Handelsblatt: “The new co-owners will give us excellent market access and contacts in Asia and will be able to accelerate our growth path.” At the same time, Reichert rejected possible fears within the workforce: “We are firmly anchored in Germany and this will be followed not change anything either. All jobs will be retained. ”
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