Deals
LVMH-Backed L Catterton Buys Iconic Sandal Maker Birkenstock
- Deal said to value family-owned company at about $4.9 billion
- L Catterton used brand, Asia experience to trump rival CVC bid
A Birkenstock GmbH footwear store in Berlin.
Photographer: Liesa Johannssen-Koppitz/BloombergL Catterton, the private equity firm backed by luxury French fashion house LVMH, agreed to buy iconic German sandal maker Birkenstock.
The investment firm and the family behind Birkenstock announced the deal on Friday without disclosing the financial terms. Bloomberg News reported earlier this week that the purchase would value the sandal maker at about 4 billion euros ($4.9 billion).