"The former made billionaires of brothers Christian and Alex Birkenstock (a third brother, Stephan, sold his stake in 2013), while the latter has given the founding family, the Griggs, a fortune valued at more than $500 million."
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"At the time, business was lackluster, in no small part because the three brothers -- Christian, Stephan and Alex Birkenstock -- had shown little talent in running the family company they inherited from their father Karl."
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"The 250-year-old German company announced Friday that owners Christian and Alex Birkenstock had sold more than half of the firm to L Catterton, the private-equity firm Mr. Arnault co-owns, and the Arnault family holding company Financière Agache. "
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