L Catterton, a consumer goods private equity fund owned by French luxury goods giant LVMH Group, plans to sell about 17.927 million shares of the famous German sandal brand Birkenstock for 52.5 US dollars per share and cash out about US$941 million. The price is about 3.3% off Birkenstock's closing price on Wednesday. According to data, L Catterton spent about US$4.8 billion to invest in Birkenstock in 2021. Additionally, Birkenstock indicated that it will repurchase approximately 3.9 million shares.

L Catterton, a consumer goods private equity fund owned by French luxury goods giant LVMH Group, plans to sell about 17.927 million shares of the famous German sandal brand Birkenstock for 52.5 US dollars per share and cash out about US$941 million. The price is about 3.3% off Birkenstock's closing price on Wednesday. According to data, L Catterton spent about US$4.8 billion to invest in Birkenstock in 2021. Additionally, Birkenstock indicated that it will repurchase approximately 3.9 million shares.