German orthopedic sandals and slippers manufacturer Birkenstock, which is stated to go public in August, announced that it has officially applied.
Birkenstock, the world’s oldest slipper manufacturer, founded in Germany in 1774, announced that it has applied for an IPO.
Birkenstock will continue to be operated by private equity firm L Catterton, which acquired a majority stake in 2021, according to a filing Tuesday. The company will disclose the proposed terms of the share sale later in a filing with the U.S. Securities and Exchange Commission.
The IPO could value Birkenstock at more than $8 billion, Bloomberg News previously reported.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley are leading Birkenstock’s IPO.
In the statement made by the company on February 26, 2021, it was announced that Birkenstock was purchased for 4 billion euros by L Catterton, a private equity company supported by Bernard Arnault’s LVMH company. The company, named L Catterton, was founded in 2016 after the merger of LVMH and Arnault’s family company with the US private equity company Catterton.