L Catterton to sell $1B in Birkenstock shares in secondary offering

Birkenstock Holding plc (NYSE: BIRK) announced the commencement of an underwritten secondary public offering of $1 billion in ordinary shares to be sold by BK LC Lux MidCo S.à r.l., an entity affiliated with private equity firm L Catterton, according to a press release dated August 13, 2026.

Birkenstock will not sell any shares in the offering and will not receive any proceeds from the transaction. The selling shareholder intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the total shares sold in the offering.

Concurrent with the offering, Birkenstock has authorized the repurchase of up to $500 million of the ordinary shares being offered, by way of redemption from the underwriter, at a price equal to what the underwriter paid. Those redeemed shares will be cancelled following completion of the redemption. The underwriter will not receive underwriting fees on shares repurchased by Birkenstock.

J.P. Morgan is acting as the sole underwriter for the offering. The final number of shares to be sold and other terms will be determined at pricing. The offering is subject to market and other conditions.

A shelf registration statement on Form F-3ASR was filed with the U.S. Securities and Exchange Commission and became effective February 13, 2025.

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