World Footwear

Companies

Birkenstock share sale raises 756 million USD for L Catterton Group

Jul 10, 2024 United States
Birkenstock share sale raises 756 million USD for L Catterton Group
LVMH-backed private equity firm and a group of Birkenstock employees have raised 756 million USD from the sale of a block of shares in the US-traded company. L Catterton will retain a 73% stake in the footwear brand
Holders sold 14 million shares at 54 each US dollars, a discount of 9.7% to the closing price of 59.78 US dollars per share on the day the deal was announced. Birkenstock shares rose to 54.63 US dollars each in after-hours trading.

As a result, L Catterton will retain a 73% stake in Birkenstock after the sale. The underwriters have an option to buy an additional 2.1 million shares from L Catterton.

The sale includes 9.9 million shares solely controlled by L Catterton and 4.1 million shares over which the private equity firm and certain executives and other employees have shared voting and dispositive power, according to a statement and filing.

The net proceeds from the sale of the shares will be used to pay the employees’ tax liabilities and outstanding loans. Birkenstock itself will not receive any proceeds.

Goldman Sachs Group Inc. and JPMorgan Chase & Co. are leading this sale, according to a regulatory filing.


Source: bloomberg.com

Image Credits: investopedia.com


Related Events

  • Sep
    6
    Sep 6-Sep 9, 2025 | Portland, United States

    The Northwest Market

  • Sep
    8
    Sep 8-Sep 9, 2025 | Michigan, United States

    Metro-Michigan Women's Wear Market

  • Sep
    11
    Sep 11-Sep 13, 2025 | Billings, Montana, United States

    Billings Market Association

  • Sep
    14
    Sep 14-Sep 16, 2025 | New York, United States

    Magic New York

Related Organizations

  • Fashion Design Office

    Fashion Design Office

    United States
  • NSRA - National Shoe Retailers Association

    NSRA - National Shoe Retailers Association

    United States
  • FFANY - Fashion Footwear Association of New York

    FFANY - Fashion Footwear Association of New York

    United States
  • BSTA - Boston Shoe Travelers Association

    BSTA - Boston Shoe Travelers Association

    United States