Deal Details

BIRKENSTOCK Completes $1.1 Billion Follow-On Offering

Consumer

BIRKENSTOCK follow-on offering

Summary

Birkenstock Holding plc (“BIRKENSTOCK” or the “Company”) (NYSE: BIRK) recently completed a secondary public offering of 20,027,344 of its ordinary shares, including 2,100,000 shares purchased by the underwriters pursuant to the 30-day option to purchase additional shares, by selling shareholder L Catterton, at a price of $52.50 per share, generating gross proceeds of approximately $1.1 billion. BIRKENSTOCK is not selling any ordinary shares in the offering and will not receive any proceeds from the sale of the ordinary shares by L Catterton.

Subject to the completion of the offering, BIRKENSTOCK has repurchased, by way of redemption from the underwriters, 3,927,344 ordinary shares that are subject to the offering, at a price per share equal to the price paid by the underwriters in the offering, which redeemed ordinary shares will be cancelled and no longer outstanding following the completion of the redemption. The underwriters will not receive any compensation for the shares being repurchased by the Company.

Baird served as a co-manager on this transaction.

About

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. Birkenstock Holding plc is headquartered in London, United Kingdom.

L Catterton is a market-leading consumer-focused investment firm, managing approximately $37 billion of equity capital across 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 300 investments in some of the world's most iconic consumer brands. L Catterton is headquartered in Greenwich, Connecticut.