L Catterton mulls IPO for Birkenstock at more than $6 billion valuation- Bloomberg News
Reuters
Published Jul 06, 2023 05:00PM ET
Updated Jul 07, 2023 04:20AM ET
(Reuters) -L Catterton, a private equity firm backed by LVMH, is considering strategic options for Birkenstock including an initial public offering, which could value the German sandal maker at more than $6 billion, Bloomberg News reported on Thursday.
L Catterton is working with advisers that include Goldman Sachs (NYSE:GS) and JPMorgan (NYSE:JPM) on a potential U.S. listing that could happen this year or the next, the report said, citing people familiar with the matter.
The Bloomberg News report added discussions are ongoing, and L Catterton could also decide against the deal.
L Catterton and Birkenstock declined to comment, while LVMH did not immediately respond to a Reuters request for comment.
Birkenstock sold a majority stake to L Catterton in 2021 and the transaction at the time valued the company at about 4 billion euros ($4.35 billion).
Financiere Agache, the family office of French billionaire and LVMH boss Bernard Arnault, also participated in the purchase of the German sandals maker alongside L Catterton.
In July 2021, Reuters reported that L Catterton held discussions with investment banks to evaluate potential options, including an initial public offering or a SPAC merger.
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