Oliver Reichert, CEO of the Birkenstock Group started by saying: “In L Catterton and Financière Agache we have found not just shareholders, but also partners for achieving our global growth ambitions. They have a great deal of know-how and excellent access to international markets. Both future partners share our growth strategy; for our products to be represented in all international markets and in all channels, while maintaining our long-standing traditions and the unique offer of quality and sustainability “made in Germany.”

 “For the next 250 years we need partners sharing the same strategic and long-term vision as the Birkenstock family. In L Catterton and Financière Agache, we have found those partners", added the two Birkenstock brothers, Christian and Alex.

Details of the agreement and the acquisition price are not disclosed due to confidentiality agreements between all parties. The transaction is subject to the usual antitrust audits.

Christian and Alex Birkenstock and the management of the Germany-based brand said they are entering this strategic partnership after "carefully examining all options".

"The expansion of the company's shareholders is the next logical step for Birkenstock to facilitate further strong growth in future growth markets such as China and India. 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 e-commerce platforms.

The move comes at a time when the long-established German company is performing better than ever before in its 250-year history. While many companies in the sector have suffered during the Corona crisis, Birkenstock recently reported another record year.

Bernard Arnaul commented “Birkenstock was founded nearly 250 years ago and has grown to become one the few iconic brands in the footwear industry. We truly appreciate brands with this long heritage, and accordingly, I am delighted that Financière Agache, my family investment company, will invest in the company alongside L Catterton, with whom we have a longstanding and close partnership. Together we will provide support to the business so it can fully realize its significant growth potential.”

About L Catterton

With approximately 23 billion US dollars of equity capital across its fund strategies and 18 offices around the world, L Catterton is a global consumer-focused private equity firm. L Catterton has a team of nearly 200 investment and operating professionals partners and since 1989, the firm has made over 200 investments in leading consumer brands.

About Financière Agache

Financière Agache is a holding company controlled by Agache, the Arnault family holding company. Financière Agache and its affiliates hold a 97.5% ownership in Christian Dior and is the controlling shareholder of LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group. Financière Agache also holds a portfolio of diversified financial investments.

About Birkenstock

Birkenstock is a global lifestyle brand, rooted in the creation of the Birkenstock footbed that can be traced as far as 1774. With more than 4 300 employees worldwide, this sixth-generation family-run business is also one of the German footwear industry’s biggest employers. By the early 1970s, Birkenstock had become a global player. Manufactured in Germany, the sandals are now sold in more than 100 countries on all continents.