** Shares of German sandals maker Birkenstock BIRK.N down 1.9% in extended trading to $53.25 after it launches secondary offering
** Co says affiliate of private equity firm L Catterton to sell ~15.7 mln shares
** Concurrently, co to repurchase $200 mln worth of shares, (roughly ~3.7 mln shares) from the underwriters
** Goldman Sachs and JP Morgan acting as joint lead book-running managers, joined by BofA
** L Catterton, backed by French billionaire Bernard Arnault and luxury goods giant LVMH LVMH.PA, currently owns ~135 mln shares, or ~72% stake
** Arnault owns ~10.4 mln BIRK shares, or 5.5% stake, through his family office, Financière Agache, per LSEG data
** BIRK has ~187.8 mln shares outstanding for $10.2 bln market cap
** BIRK shares on Weds edged up 0.2% to close at $54.30, down 4% YTD
** Earlier this month, co said it plans to raise prices globally and seek production efficiencies to help offset tariffs
** 18 of 21 analysts covering BIRK rate stock "strong buy" or "buy", rest rate "hold" and median PT is $70, latest LSEG data reflects
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.