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Iconic lifestyle brand Birkenstock Group has sold its entire business to L Catterton, the largest global consumer-focused private equity firm, backed by Financière Agache, the holding of the Arnault family, shareholder with a significant interest in LVMH. Owners Christian and Alex Birkenstock remain involved in the new Birkenstock Group. The transaction value was not disclosed but the transaction ranks among the biggest transactions in Germany this year.
As reported in The Guardian, Christian and Alex Birkenstock said: “For the next 250 years we need partners sharing the same strategic and long-term vision as the Birkenstock family. In L Catterton and Financiè re Agache, we have found those partners. They bring both a deep understanding of the details of a manufacturing business that is all about quality and a respect for brands with a long heritage like ours. We look forward to taking the next steps with our partners and carrying our family business into an even brighter future.”
