German sandal-maker Birkenstock in €4bn takeover battle

Private equity groups signal interest as brands mixing comfort, heritage and durability soar during Covid pandemic

• Birkenstocks continue to run and run

German sandal maker Birkenstock is at the centre of a 4bn (3.5bn) takeover battle as the trend for casual footwear steps up during the pandemic.

Private equity firm CVC Capital Partners, the owner of dozens of companies from motorway services firm Moto to luxury watchmaker Breitling, is vying to buy a majority stake in Birkenstock with L Catterton, a private equity firm part-owned by Louis Vuitton and Christian Dior owner LVMH. L Catterton already owns fashion brands including Ganni, Seafolly and Pepe Jeans.