LVMH-backed Financière Agache and L Catterton completed the acquisition of a majority stake in BIRKENSTOCK, a footwear manufacturer, at a $4.8bn valuation. "In L Catterton and Financière Agache we have found not just shareholders, but also partners for achieving our global growth ambitions. They have a great deal of know-how and excellent access to international markets. Both future partners share our growth strategy; for our products to be represented in all international markets and in all channels, while maintaining our long-standing traditions and the unique offer of quality and sustainability made in Germany," Oliver Reichert, BIRKENSTOCK CEO.