French Arnault Single Family Office Invests in Birkenstock Private Equity Deal

Financiere Agache, the French single family office of billionaire and LVMH owner Bernard Arnault, invests in the recent acquisition of 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, also Arnault’s single family office Financiere Agache was involved in the Birkenstock transaction. Financiere Agache holds a diversified portfolio in the luxury goods sector and also further financial investments.

Source: CNBC, 28.02.2021
Picture Source: Stephanie Hau