3G Capital, a private equity firm, has finalized a multibillion-dollar agreement to acquire Skechers, effectively taking the California-based footwear manufacturer private.
The transaction was announced on Monday, with Skechers confirming that the board unanimously approved the deal. Under the terms, 3G Capital will buy all outstanding shares of Skechers at a price of $63 each. Shareholders have the option to receive $57 in cash along with one unlisted, non-transferable equity unit in a newly formed privately held parent company that will oversee Skechers post-transaction. The overall value of the deal is estimated to be approximately $9.4 billion.
The acquisition process is expected to conclude in the third quarter, pending customary closing conditions and regulatory approvals, as stated by Skechers.
Once the deal is finalized, Skechers will cease trading on the New York Stock Exchange after being a publicly traded entity for nearly 26 years, operating under the ticker “SKX.”
Robert Greenberg, CEO of Skechers, expressed optimism about the acquisition, stating that the company is “entering its next chapter in partnership with the global investment firm 3G Capital.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SKX | SKECHERS U.S.A. INC. | 61.39 | 0.00 | 0.00% |
Greenberg highlighted 3G Capital’s track record of fostering the success of major global consumer brands, asserting that the collaboration will enhance the company’s ability to serve its customers while supporting long-term growth.
The existing management team, including Robert and Michael Greenberg, will continue to lead Skechers after the acquisition, ensuring continuity in company operations.
Skechers also reiterated its commitment to advancing its strategic initiatives, which include creating innovative products, expanding internationally, developing direct-to-consumer channels, and investing in technology and infrastructure.
In its recent financial report, Skechers disclosed that it generated $2.41 billion in sales during the first quarter of the year, with net earnings reaching $202.4 million.
However, the company has withdrawn its annual guidance for 2025, citing ongoing macroeconomic challenges linked to global trade policies under the Trump administration’s tariff implementations.
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Founded in 1992 by Robert and Michael Greenberg, Skechers prides itself on being the third-largest footwear company in the world, with a staggering 297 million units sold last year.
As of Tuesday, the company’s market capitalization was estimated at around $9.19 billion, marking the day after the announcement of the 3G Capital acquisition.
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