Birkenstock owner mulls $8bn IPO - Retail Gazette retailgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from retailgazette.co.uk Daily Mail and Mail on Sunday newspapers.
L Catterton is working with advisers including Goldman Sachs and JP Morgan on a potential listing in the US for Birkenstock, WWD reported. The publication
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As Christmas eve approached last year, Germany’s savviest dealmaker thought he’d pocketed a special gift.
In the early hours of December 24, Alexander Dibelius struck a gentleman’s agreement with Oliver Reichert, the chief executive of Birkenstock. CVC Capital Partners, the buyout firm where Mr Dibelius is a managing partner, was set to buy the iconic German sandal-maker for more than €3.5 billion ($4.2bn).
For CVC, Birkenstock had all the ingredients of a promising investment: a brand that resonates with its eco-warrior credentials and rich heritage, coupled with the allure of untapped growth in markets like Asia. After several years, CVC would pump up Birkenstock, go global and then move on. Mr Dibelius, 61, stood to make the deal his crowning buyout.
How L Catterton Really Won Birkenstock businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.