L Catterton and Birkenstock employees to sell 14 million shares

In a secondary public offering, Birkenstock employees and BK LC Lux MidCo, an entity affiliated with L Catterton plan to sell Birkenstock’s 14 million ordinary shares.

Following the completion of the proposed offering, L Catterton will hold approximately 73.2 percent of the ordinary shares outstanding of the company.

Commenting on the development, Oliver Reichert, CEO of Birkenstock Group and member of the board said: “Supported by the positive outlook and strong performance of our business, the intended secondary offering is an opportunity for us to further broaden our investor base and to increase the liquidity of our stock.”

“At L Catterton, we remain deeply committed to Birkenstock and continue to be long-term partners who have deep conviction in the company’s growth story. As a lead investor and the largest shareholder, we are committed to executing this transaction in a responsible way,” added Michael Chu, global co-CEO of L Catterton and chair of the company’s board.

Goldman Sachs and J.P. Morgan are acting as joint lead book-running managers for the proposed offering.