French Arnault Single Family Office Invests in Birkenstock Private Equity Deal

Financiere Agache, private investment company and family holding company of French billionaire Bernard Arnault, invests in the German shoemaker Birkenstock by private equity firm L Catterton (that is also related to Arnault).

Birkenstock: profitable German shoe and sandals company

Birkenstock is a traditional German shoemaker that is specialized on sandals. The company was founded in 1774 in Langen-Bergheim. The iconic shoe brand had a successful 2020 despite the pandemic. In 2019, sales were at €721.5M. A remarkable step of Birkenstock was the decision of the company in 2018 not to distribute its sandals via Amazon anymore. So far, the company was still held by the Birkenstock family. Now, LVMH-related private equity firm L Catterton acquires a majority stake. According to insiders, the company is valued at €4BN through the transaction.

Arnault single family office: active private equity investors

L Catterton manages more than $23BN, is based in Greenwich (United States) and was founded in 2016 as a joint venture between Catterton (a private investment firm) and LVMH and the Arnault’s family holding Groupe Arnault. Notable investments include Peloton, Louis Vuitton and St. Marche Group. Besides L Catterton, Financiere Agache a private investment company of Bernard Arnault was involved in the Birkenstock transaction. Financiere Agache holds a diversified portfolio in the luxury goods sector and also further financial investments.

Bernard Arnault’s Family Office: Groupe Arnault

In addition to Catterton, Financiere Agache, most of the family’s assets are managed by Bernard Arnault’s family office, Groupe Arnault. Groupe Arnault is active in a variety of sectors, including luxury goods, technology, finance and real estate. The family office supports Arnault’s long-term investment strategy by investing in high-growth companies and innovative start-ups, as well as managing his family’s personal assets. Groupe Arnault has played an important role in positioning Arnault as one of the world’s wealthiest and most influential business personalities, ensuring a balance between financial returns, risk management and strategic growth.

Source: CNBC, 28.02.2021
Picture Source: Stephanie Hau