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Brussels (dpa) - The European Commission has approved the takeover of the world-famous German sandal manufacturer Birkenstock by the US company L Catterton.
"The project was examined in the context of the simplified merger control procedure," said the Brussels authority today.
Accordingly, the planned takeover does not raise any competition concerns.
Birkenstock, based in Linz am Rhein in Rhineland-Palatinate, described the partnership in February as the next logical step in order to continue to grow strongly in future markets such as China and India.
The transaction has so far been subject to the approval of the relevant competition authorities.
According to a communication from the Commission, L Catterton is a company active in the retail, catering and food and beverage industries.
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Birkenstock has around 4,300 employees and, according to its own information, is economically stable.
In 2019, the company posted a turnover of around 720 million euros with a net profit of 130 million euros - and in the Corona year 2020, despite two-month factory closings, it generated revenues around the previous year's level.
© dpa-infocom, dpa: 210423-99-327837 / 5
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