Birkenstock Completes $1.5 Billion Initial Public Offering


Birkenstock initial public offering


Birkenstock Holding plc (“Birkenstock”) (NYSE: BIRK), a portfolio company of L Catterton, recently completed its initial public offering (the “Offering”) of 32,258,064 ordinary shares at a public offering price of $46.00 per share, generating gross proceeds of approximately $1.5 billion. Birkenstock offered 10,752,688 ordinary shares and the selling shareholder offered 21,505,376 ordinary shares. In connection with the offering, the selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 4,838,709 ordinary shares. Birkenstock intends to use the net proceeds from the offering for repayment of debt. Birkenstock will not receive any proceeds from shares sold by the selling shareholder.

Baird served as a co-manager on this transaction.


Birkenstock Holding plc is the ultimate parent company of Birkenstock Group B.V. & Co. KG and its subsidiaries (the "Birkenstock Group"). Birkenstock is a global brand which embraces all consumers regardless of geography, gender, age and income and which is committed to a clear purpose - encouraging proper foot health. Deeply rooted in studies of the biomechanics of the human foot and backed by a family tradition of shoemaking that can be traced back to 1774, Birkenstock is a timeless «super brand» with a brand universe that transcends product categories and ranges from entry-level to luxury price points while addressing the growing need for a conscious and active lifestyle. Function, quality and tradition are the core values of the Zeitgeist brand which features products in the footwear, sleep systems and natural cosmetics categories. Birkenstock Holding plc is headquartered in London, United Kingdom.

L Catterton is a market-leading, consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. L Catterton is headquartered in Greenwich, Connecticut.

Birkenstock initial public offering

October 2023
Birkenstock Holding plc
Equity Capital Markets
Performance & Lifestyle Apparel and Footwear
Target Geography
North America