LA Private

Strap in: Birkenstock considers $9bn IPO

L Catterton, a private equity firm with the backing of luxury goods giant LVMH, is currently considering various strategic alternatives for Birkenstock.

Bloomberg News revealed on Thursday that one of the options being explored is an IPO, which could value Birkenstock at a staggering $9 billion (US$6 billion) or more.

According to sources familiar with the matter cited by the report, L Catterton is working closely with advisors, including Goldman Sachs and JPMorgan, to explore the possibility of a U.S. listing for Birkenstock. If the plans move forward, the IPO could take place as early as this year or potentially next. However, it should be noted that discussions are ongoing, and L Catterton may ultimately decide against the IPO.

When approached for comment, L Catterton, headquartered in Greenwich, Connecticut, chose not to provide a statement. LVMH and Birkenstock have yet to respond to Reuters’ requests for comments on the matter.

It is worth noting that L Catterton acquired a majority stake in Birkenstock in 2021, with the transaction valuing the company at approximately €4 billion ($6.57 billion) at the time. This purchase was made in collaboration with Financiere Agache, the family office of French billionaire and LVMH CEO Bernard Arnault.

Last year, in July 2021, Reuters reported that L Catterton had engaged in discussions with investment banks to evaluate various potential options for Birkenstock, including an IPO or a merger with a special purpose acquisition company (SPAC).