Arnault family’s L Catterton in rumoured Birkenstock takeover bid Birkenstock, the sixth-generation family-owned business and the German footwear industry’s largest employer, could be the next $4.8 billion acquisition by the Arnault family’s private equity firm. The comfortable “footbed” sandal maker, which traces its roots back to 1774, two years before the United States declared its independence, is the subject of an apparent bidding war between L Catterton and CVC Capital Partners. L Catterton is the largest consumer-focused private equity firm in the world, with $23 billion of assets under management. The Connecticut-headquartered firm was formed in 2016 from private equity firm Catterton, luxury goods giant LVMH and Groupe Arnault, the family holding company of billionaire principal Bernard Arnault. LVMH’s portfolio of 75 brands includes Louis Vuitton, Christian Dior and, most recently, the US jeweller Tiffany and Co.