German brand Birkenstock, owned by the founding family, is looking for new owners. Currently, private equity funds CVC Capital Partners and Permira are already interested in buying the brand. The German company is valued at over 4 billion euros.
Negotiations between CVC and the owners of Birkenstock were supposed to begin a few months ago, but until an agreement between the parties has taken place, it is known that the owner of Dr. Martens Permira Funds is considering the purchase of the German brand.
It is noted that the coronavirus pandemic has played into the hands of the German brand. Financial statements as of September 30, 2020 are not known, but Birkenstock CEO Oliver Reichet announced that revenue will exceed the previous year's revenue (€ 721,5 million). Meanwhile, the company's profitability declined slightly.
The German brand is still owned by the Birkenstock family and managed by external managers. The company has set a goal to reach a turnover of more than 1 billion euros over the next two years and is progressively moving towards it. One of the important steps in this direction was entering the Indian market through the conclusion of partnerships with the Seva Group.