Skechers to be acquired by 3G Capital in 9.4 billion dollars deal
Skechers concept store in Brussels Credits: Skechers/Business Wire In a significant development in the footwear industry, Skechers U.S.A., Inc. has announced its agreement to be acquired by global investment firm 3G Capital for approximately 9.4 billion dollars. The transaction, unanimously approved by Skechers' board of directors, will transition the company from a public to a privately held entity. Commenting on the development, Robert Greenberg, chairman and CEO said, “With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital.” “Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the company’s long-term growth.” Details of the deal and leadership continuity Under the terms of the agreement, 3G Capital will offer Skechers shareholders 63 dollars per share in cash, representing a 30 percent premium over the company's 15-day volume-weighted average stock price. Alternatively, shareholders have the option to receive 57 dollars per share along with an unlisted equity unit in a new private parent company. Post-acquisition, Skechers will maintain its current leadership team, including chairman and CEO Robert Greenberg, president Michael Greenberg, and COO David Weinberg. The company will continue to operate from its headquarters in Manhattan Beach, California. “We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber and the talented Skechers team. We have immense admiration for the business that this team has built, and look forward to supporting the company’s next chapter,” said Alex Behring, co-founder and co-managing partner, and Daniel Schwartz, co-managing partner, of 3G Capital. Market Reaction and outlook Following the announcement, Skechers' stock experienced a significant surge, rising nearly 25 percent to 61.56 dollars. The company reported revenues of 9 billion dollars in 2024, with net income of 640 million dollars. Approximately 43 percent of its sales were direct to consumers, and it operated over 5,300 stores across approximately 180 countries. The acquisition comes amid global economic uncertainties and trade tensions, particularly between the U.S. and China. Skechers, which derives around 15 percent of its revenue from China, has indicated plans to adapt by exploring cost-sharing with vendors, optimizing sourcing, and adjusting prices. 3G Capital, known for its investments in companies like Restaurant Brands International, aims to support Skechers' continued growth and operational continuity. The acquisition is expected to close in the third quarter of 2025.
In a significant development in the footwear industry, Skechers U.S.A., Inc. has announced its agreement to be acquired by global investment firm 3G Capital for approximately 9.4 billion dollars.
The transaction, unanimously approved by Skechers' board of directors, will transition the company from a public to a privately held entity.
Commenting on the development, Robert Greenberg, chairman and CEO said, “With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital.”
“Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the company’s long-term growth.”
Details of the deal and leadership continuity
Under the terms of the agreement, 3G Capital will offer Skechers shareholders 63 dollars per share in cash, representing a 30 percent premium over the company's 15-day volume-weighted average stock price. Alternatively, shareholders have the option to receive 57 dollars per share along with an unlisted equity unit in a new private parent company.
Post-acquisition, Skechers will maintain its current leadership team, including chairman and CEO Robert Greenberg, president Michael Greenberg, and COO David Weinberg. The company will continue to operate from its headquarters in Manhattan Beach, California.
“We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber and the talented Skechers team. We have immense admiration for the business that this team has built, and look forward to supporting the company’s next chapter,” said Alex Behring, co-founder and co-managing partner, and Daniel Schwartz, co-managing partner, of 3G Capital.
Market Reaction and outlook
Following the announcement, Skechers' stock experienced a significant surge, rising nearly 25 percent to 61.56 dollars.
The company reported revenues of 9 billion dollars in 2024, with net income of 640 million dollars. Approximately 43 percent of its sales were direct to consumers, and it operated over 5,300 stores across approximately 180 countries.
The acquisition comes amid global economic uncertainties and trade tensions, particularly between the U.S. and China. Skechers, which derives around 15 percent of its revenue from China, has indicated plans to adapt by exploring cost-sharing with vendors, optimizing sourcing, and adjusting prices.
3G Capital, known for its investments in companies like Restaurant Brands International, aims to support Skechers' continued growth and operational continuity. The acquisition is expected to close in the third quarter of 2025.
