Linz am Rhein ,
L Catterton, the largest global consumer-focused private equity firm, today announced that it has completed the previously announced acquisition of global lifestyle brand BIRKENSTOCK. Financial terms of the transaction were not disclosed.
In conjunction with the closing, BIRKENSTOCK has formed and appointed six members to the Company’s Supervisory Board, including: Michael Chu, Global Co-CEO, and Nik Thukral and Luigi Feola, Managing Partners at L Catterton; Oliver Reichert, CEO of BIRKENSTOCK; and one representative each from both GIC and Financière Agache.
In partnership with L Catterton and Financière Agache, BIRKENSTOCK intends to continue its growth trajectory by investing further in its business and expanding its market leadership in Europe and North America while growing its presence in future markets, particularly in China and Asia.
Michael Chu said: "We are pleased to have completed the acquisition of BIRKENSTOCK, and I look forward to working closely with Oliver and the exceptional management team, as well as my colleagues on the Supervisory Board, to drive growth and unlock new opportunities for a business with an unrivaled heritage.”
Oliver Reichert said: "L Catterton and Financière Agache have an unmatched expertise and international network of resources, and we are confident this partnership will serve as a major leap forward for BIRKENSTOCK. Our company has long been at the forefront of the footwear and lifestyle industry worldwide thanks to the outstanding skills and abilities of our people. Today we are opening a new, very promising chapter in the company's history."
About L Catterton
With over $25 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.
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, 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.
BIRKENSTOCK is a global lifestyle brand with a heritage in iconic footwear, rooted in the creation of the BIRKENSTOCK footbed that can be traced as far as 1774. The notion of quality and function guides the brand in all its actions and across categories. The concept of all-round wellbeing is developed into footwear, sleeping systems and Natural Cosmetics, increasingly translating the lifestyle vision of the brand heritage. With more than 4,300 employees worldwide, this traditional, sixth-generation family-run business is also one of the German footwear industry’s biggest employers. BIRKENSTOCK was already using the term “footbed” in the 1910s, giving it the meaning which is commonly understood by consumers all over the world to this day – as a synonym for outstanding comfort when walking and standing. 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. BIRKENSTOCK also has a growing range of closed shoes, children’s shoes, and occupational footwear, as well as specialist products for orthopedic retailers, socks, bags, and belts. In 2017, BIRKENSTOCK added sleep systems and natural cosmetics (BIRKENSTOCK NATURAL SKIN CARE) to its portfolio of products. BIRKENSTOCK has 16 sites in Germany, in the states of North Rhine-Westphalia, Rhineland-Palatinate, Hesse, Bavaria, and Saxony. The long-standing family-owned enterprise also operates its own sales offices in the United States and Canada as well as in Brazil, China, Hong Kong, Japan, Denmark, Poland, Spain, the United Kingdom and Dubai.