Birkenheimer.

L Catterton hires advisers for Birkenstock IPO

August 01, 2023

Do you guys ever think about dying? Cinema chain AMC can’t exactly die but its management has been thinking a lot about bankruptcy lately. The success of Barbenheimer may help turn things around though after AMC had its best week ever. The Barbie movie has been driving sales at other companies too. Mattel, obviously, but less obviously Birkenstock where it may have added billions to the value of the company (more on that below).

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Credit: The Sydney Morning Herald/Bloomberg

L Catterton hires advisers for Birkenstock IPO

PE firm and Birkenstock majority owner L Catterton is planning to IPO the shoemaker in September at a price that would value the company at over $8 billion. Birkenstock sales have increased following the feature of its sandals in the blockbuster Barbie movie so the valuation could go even higher.

Birkenstock's IPO follows the acquisition of a majority stake in the business by L Catterton and the family investment company of LVMH billionaire Bernard Arnault more than two years ago, which valued it at about €4 billion ($6.6 billion). Birkenstock had never taken PE funding prior to this.

L Catterton itself has also been considering going public. They are just one of a number of PE firms that have had such conversations with advisors ($).

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Off-balance sheet items

  • After being canceled by Fox, picked up by Comedy Central and then canceled again, Futurama has been picked up by Disney Plus. The new season is out now and I guess it’s OK, but I fear the best years (seasons 1 to 4) may be behind us.

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