L Catterton, Employees to Sell 14 Million Birkenstock Shares (1)

Private equity firm L Catterton and a group of employees of Birkenstock Holding Plc are offering to sell 14 million shares of the US-traded footwear maker, days after it hit its highest level since its initial public offering.

Birkenstock’s shares closed at $59.78 each on Monday, up nearly 30% from their IPO price in October to give the company a market value of about $11.2 billion. At that price, the stake for sale would be worth $836.9 million.

After the close of regular trading Monday, Birkenstock’s shares fell about 5.1%.

L Catterton will have about a 73% stake in Birkenstock ...