Skechers acquired by 3G Capital in a $9 billion deal, taking the footwear giant private after 26 years on the NYSE. Learn about the acquisition terms, stock surge, and future leadership.
In a landmark move for the footwear industry, Skechers U.S.A., Inc., the third-largest footwear company in the world, has agreed to be acquired by global investment firm 3G Capital for approximately $9 billion. The deal, announced on Monday, will take Skechers private, ending its 26-year run as a publicly traded company on the New York Stock Exchange.
Under the terms of the agreement, 3G Capital will pay $63 per share in cash, representing a 30% premium over Skechers’ 15-day volume-weighted average stock price. Shareholders also have the option to receive $57 per share in cash plus one non-transferable equity unit in a newly formed private company, though this option is limited to 20% of outstanding shares. Following the announcement, Skechers’ stock surged 25%, reaching $61.72 at the opening bell.
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The acquisition, unanimously approved by Skechers’ board of directors, is expected to close in the third quarter of 2025, pending regulatory approvals. The deal is financed through a combination of 3G Capital’s cash reserves and debt financing committed by JPMorgan Chase Bank.
Skechers, founded in 1992 in Manhattan Beach, California, has grown into a global powerhouse with $9 billion in annual sales in 2024. Known as the “Comfort Technology Company,” the brand has built a loyal customer base through its focus on style, comfort, and affordability. The company’s collections are sold in approximately 180 countries through a network of over 5,300 retail stores and its website, skechers.com.
“Over the last three decades, Skechers has experienced tremendous growth,” said Robert Greenberg, Chairman and CEO of Skechers. “With a proven track record, Skechers is entering its next chapter in partnership with 3G Capital. 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.”
3G Capital, led by Brazilian billionaire Jorge Paulo Lemann, is renowned for its investments in consumer brands such as Burger King, Kraft Heinz, and Anheuser-Busch InBev. The firm’s owner-operator approach emphasizes long-term growth, and its leaders expressed enthusiasm for the partnership. “We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s caliber,” said Alex Behring and Daniel Schwartz, Co-Managing Partners at 3G Capital.
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The deal comes at a challenging time for the footwear industry, with companies grappling with President Donald Trump’s proposed tariffs on imports, particularly from China, which accounts for 15% of Skechers’ revenue. Skechers, alongside competitors like Nike and Adidas, recently signed a letter from the Footwear Distributors and Retailers of America urging an exemption for shoes from these tariffs. However, sources close to the deal told CNBC that 3G Capital remains confident in Skechers’ long-term growth potential despite short-term uncertainties.
Post-acquisition, Skechers will continue to be led by its current management team, including Greenberg, President Michael Greenberg, and COO David Weinberg. The company’s headquarters will remain in Manhattan Beach, ensuring continuity for its global operations.
Analysts noted the deal’s significance, with Needham’s Tom Nikic calling it “very surprising” given Skechers’ identity as a family-run business. The acquisition is one of the largest in the footwear industry’s history and underscores 3G Capital’s interest in high-growth consumer brands.