Birkenstock has filed for an initial public offering, in another sign of the allure U.S. equity markets hold for European firms seeking a valuation uplift.
The German footwear maker will continue to be controlled by private equity firm L Catterton, according to a filing on Tuesday. The company will disclose the proposed terms of the share sale in a later filing with the U.S. Securities and Exchange Commission.
The IPO could value Birkenstock at more than $8 billion, Bloomberg News reported previously. Goldman Sachs Group, JPMorgan Chase and Morgan Stanley are leading the offering, which comes more than two years after L Catterton and the family investment company of billionaire Bernard Arnault acquired a majority stake in Birkenstock, valuing it at about €4 billion ($4.3 billion).