German sandal maker Birkenstock taken over by LVMH-backed group
by Sarah Butler from World news | The Guardian on (#5EPJ9)
Family investment firm of French billionaire Bernard Arnault, and L Catterton agree 4bn deal
The French family behind Louis Vuitton and Christian Dior is to take control of the German sandal maker Birkenstock in a 4bn deal.
Financiere Agache, the family investment firm of Bernard Arnault, the French billionaire who controls the designer brand conglomerate LVMH, and L Catterton, a private equity firm part-owned by LVMH, has bought a majority stake in the family-owned footwear firm. The value of the deal was not confirmed but is understood to be in the region of 4bn (3.5bn).
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