Birkenstock Holding plc announced the pricing of a secondary public offering of 25.5 million shares of Birkenstock sold by BK LC Lux MidCo S.à r.l., an entity affiliated with L Catterton.
The shares in the offering were priced at $39.35 each, raising $1 billion before underwriting expenses. In connection with the offering, the selling shareholder has granted the underwriter a 30-day option to purchase up to 3.8 million additional ordinary shares.
L Catterton acquired a majority stake in Birkenstock in April 2021 and took the company public in October 2023. Following the secondary share offering, L Catterton reduced its holding in Birkenstock from about 54 percent down to approximately 40 percent. If the underwriter’s 30-day option to buy additional shares is fully exercised, L Catterton’s stake will further decrease to approximately 38 percent.
The closing of the offering is expected to occur on August 17, subject to customary closing conditions.
J.P. Morgan is acting as underwriter for the offering.
Image courtesy Birkenstock
