We advised Birkenstock on the offering and repurchase

Davis Polk advised Birkenstock Holding plc in connection with its SEC-registered secondary offering of 20,027,344 ordinary shares by BK LC Lux MidCo S.à r.l., an affiliated fund of L Catterton Management Limited, as selling shareholder, including 2,100,000 shares sold upon the exercise in full by the underwriters of their option to purchase additional shares from the selling shareholder.

In connection with the offering, Birkenstock repurchased 3,927,344 ordinary shares from the underwriters at the price per share paid by the underwriters to the selling shareholder. Gross proceeds to the selling shareholder were approximately $1.0 billion. The ordinary shares are listed on the New York Stock Exchange under the symbol “BIRK.”

Headquartered in Linz am Rhein, Germany, Birkenstock is a global footwear company that designs and manufactures sandals, shoes, sleep systems and natural cosmetics. The company operates a vertically integrated manufacturing model, assembling all footbeds and most products in Germany and sourcing the majority of its materials from Europe. Birkenstock serves a broad customer base across various geographies and price points through a network of international sales offices.

The Davis Polk corporate team included partner Leo Borchardt, counsel Christopher Diel and associate Serdar Inci. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided U.S. tax advice. Partner Dominic Foulkes and associate Samantha Wilson provided U.K. tax advice. Counsel Sarah E. Kim and associate Saloni Pant provided 1940 Act advice. Members of the Davis Polk team are based in the London and New York offices.

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