Birkenstock Holding plc Announces $250 Million Accelerated Share Repurchase Agreement

Birkenstock Holding plc has entered into a $250 million accelerated share repurchase (ASR) agreement with Goldman Sachs International. The company will pay $250 million on May 21, 2026, and expects to receive approximately 6.0 million ordinary shares, representing about 80% of the anticipated total, based on the May 20, 2026 closing price. The final number of shares will be determined by the volume-weighted average price during the agreement term, with potential adjustments. The company plans to fund this repurchase using cash on hand and its revolving credit facility, with settlement expected before June 30, 2026. Birkenstock's CEO stated that the ASR is a strategic deployment of capital due to a perceived disconnect between the share price and the company's fundamental performance, expressing confidence in the brand's continued growth and ability to achieve annual revenue growth of 13-15% in constant currency while maintaining strong margins and free cash flow.