Birkenstock Launches Secondary Offering and Share Repurchase

Birkenstock Holding plc announced the start of an underwritten secondary public offering of 15,691,399 ordinary shares. These shares are to be sold by BK LC Lux MidCo S.à r.l., associated with L Catterton, the selling shareholder. The selling shareholder intends to give underwriters a 30-day option to purchase up to 1,800,000 additional shares. Birkenstock itself is not selling any shares and will not see proceeds from this sale.

Upon completion of the offering, Birkenstock plans a share repurchase up to $200 million. This involves 3,691,399 shares, based on a share price of $54.18. These will be redeemed from the underwriters and then canceled. The offering's size and terms depend on market conditions at the time of pricing.

Goldman Sachs, J.P. Morgan, and BofA Securities are leading the underwriting. The offering adheres to an automatic shelf registration filed with the SEC and became effective on February 13, 2025. The company emphasizes that the offering is dependent on market conditions and is not an offer or solicitation in prohibited jurisdictions.