Share sale: Birkenstock major shareholder L Catterton parts with share package
L Catterton is using the surge in share price for a multi-billion euro sale of shares. Birkenstock wants to buy back some of the papers itself.
Munich - Birkenstock's major shareholder, L Catterton, has sold a significant share of the company's stock following a sharp rise in its price. The financial investor, backed by French billionaire Bernard Arnault and luxury group LVMH, listed Birkenstock shares on Thursday evening for a billion dollars. Investment bank JPMorgan was reportedly placing these shares overnight with institutional investors.
Birkenstock announced it would buy back up to 500 million dollars worth of its own shares before redeeming them. The Birkenstock share increased by twelve percent on the New York Stock Exchange after the company raised its sales forecast for the current year due to high demand. After market close, the shares fell 3.7 percent to 39.50 dollars.
L Catterton still owns 54 percent of Birkenstock, as per LSEG data. In computational terms, this volume of placement is nearly a quarter of the investment, meaning the financial investor could be left with a minority stake of around 40 percent. Arnault himself holds over 5.6 percent through his family holding Financiere Agache. L Catterton has been selling larger share packages each summer since Birkenstock's stock market debut in October 2023: 756 million dollars in 2024 and 941 million dollars in 2025.
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