Birkenstock Announces Launch of Secondary Offering

Birkenstock Holding plc has announced the start of a secondary public offering of 14 million ordinary shares. The shares will be sold by BK LC Lux MidCo S.à r.l., an affiliate of L Catterton. This offering aims to increase the liquidity of Birkenstock’s stock and broaden its investor base. Goldman Sachs & Co. LLC and J.P. Morgan will act as lead book-running managers.

The offering includes a 30-day option for underwriters to purchase an additional 2.1 million shares. Birkenstock itself will not sell any shares nor receive any proceeds from this offering. Post-offering, L Catterton will hold approximately 137.5 million ordinary shares, or 73.2% of the total shares outstanding.

CEO Oliver Reichert stated that the secondary offering would bring long-term investors who understand Birkenstock’s unique investment case. Michael Chu, Global Co-CEO of L Catterton, reaffirmed their commitment to Birkenstock’s growth story.

The transaction is subject to market conditions and will proceed upon the effectiveness of the related registration statement filed with the U.S. Securities and Exchange Commission.