German sandal maker Birkenstock taken over by LVMH-backed group

Family investment firm of French billionaire Bernard Arnault, and L Catterton agree €4bn deal

The French family behind Louis Vuitton and Christian Dior is to take control of the German sandal maker Birkenstock in a €4bn deal.

Financière Agache, the family investment firm of Bernard Arnault, the French billionaire who controls the designer brand conglomerate LVMH, and L Catterton, a private equity firm part-owned by LVMH, has bought a majority stake in the family-owned footwear firm. The value of the deal was not confirmed but is understood to be in the region of €4bn (£3.5bn).

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