Latham & Watkins Advises on Birkenstock’s US$756 Million Secondary Offering

Birkenstock Holding plc (BIRKENSTOCK or we, NYSE: BIRK) has announced the pricing of an underwritten secondary public offering of 14,000,000 of its ordinary shares (the Ordinary Shares) by BK LC Lux MidCo S.à r.l. (MidCo), an entity affiliated with L Catterton (the Selling Shareholder), at a price to the public of US$54.00 per share. The Selling Shareholder has sole voting and dispositive power over 9,880,814 shares offered, and the Selling Shareholder and the executive officers and certain other employees of the BIRKENSTOCK Group have shared voting and dispositive power over 4,119,186 shares offered. In connection with the offering, the Selling Shareholder has granted the underwriters a 30-day option to purchase up to 2,100,000 additional Ordinary Shares. BIRKENSTOCK is not selling any Ordinary Shares in the offering and will not receive any proceeds from the sale of the Ordinary Shares by the Selling Shareholder. The closing of the offering is expected to occur on June 28, 2024, subject to customary closing conditions.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by partners Marc Jaffe, Ian Schuman, and Adam Gelardi, with associates Matt DeSilva, Katie Byun, and Emma Gilmore. Advice was also provided on tax matters by partner Jiyeon Lee-Lim, with associate Farrah Yan.