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LVMH-Backed Group Inks Birkenstock Deal

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LVMH-backed Group L Catterton and Financière Agache acquires $4.9B majority stake in German footwear firm Birkenstock.
Birkenstock is best known for its contoured cork footbeds.
CREDIT: Arno Burgi/picture-alliance/dpa/AP Images

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Birkenstock GmbH said on Friday that it is selling a majority stake to an investment group affiliated with LVMH Moët Hennessy Louis Vuitton. The purchase price wasn’t disclosed but analysts have pegged the deal value at 4 billion euros ($4.85 billion). The German footwear firm said the stake will be sold to private equity firm…

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