Birkenstock could change hands

Europe
Published:  25 January, 2021
Credit: Birkenstock

The German footwear manufacturer is to be sold to a private equity firm in a deal valued at US$4.85 billion.

Birkenstock is allegedly exploring a sale to Luxembourg-based private equity company CVC, according to British newspaper The Financial Times. The deal could value the footwear company at more than US$4.85 billion, including debt. Birkenstock employs about 4,000 people and recorded €721.5 million in revenues in the year to September 2019. Its net profit is said to have increased 40% from the previous year, as more people searched for comfortable shoes.

Sources: Financial Times/MSN