Birkenstock Group acquired by L Catterton and affiliates, including Financière Agache

Basis

• EUR 4.0bn enterprise value is a FundComb estimate. Public sources reviewed confirm the transaction, but do not independently disclose every valuation input.
• Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
• EV / EBITDA: 25x.
• EBITDA basis was not stated in the source material.
• Birkenstock did not disclose the acquisition price or exact stake. Bloomberg described an approximately €4 billion whole-company valuation; this is a secondary estimate, not disclosed consideration. L’Agefi reported FY2019 revenue of €722 million, operating profit of €161 million, and a roughly 25x EBITDA valuation. These financial figures are historical and do not represent FY2020 or transaction-year results. No revenue multiple is calculated because the sourced historical revenue is not transaction-period revenue. Currency conversion is not supported. No revenue multiple calculated: FY2019 revenue is historical, not transaction-period revenue. EBITDA multiple is retained as reported, not recalculated. L’Agefi reported FY2019 revenue and operating profit and described the valuation as approximately 25 times EBITDA. The EBITDA amount is not stated.