3G Capital, a private equity firm, has finalized an agreement to acquire Skechers and transition the footwear brand into a private entity.
This multi-billion dollar agreement, announced on Monday, received “unanimous” backing from Skechers’ board. As part of the arrangement, 3G Capital will buy Skechers shares at $63 each. Shareholders of Skechers can also choose to receive $57.00 in cash along with one private, non-transferable unit. Once the deal concludes, the newly formed private entity will act as Skechers’ parent company, with the entire transaction valued at approximately $9.4 billion.
The acquisition by 3G Capital is anticipated to close in the third quarter, contingent on typical closing conditions, including regulatory approval.
After all transactions are finalized and Skechers goes private, trading on the New York Stock Exchange will cease. Skechers has been publicly traded for nearly 26 years, under the ticker “SKX.”
Skechers’ CEO, Robert Greenberg, expressed optimism about the partnership with 3G Capital, indicating that it marks “the next chapter” for the company. He mentioned the unique ability of 3G Capital to enhance global consumer businesses, which could support Skechers’ ongoing growth.
Robert Greenberg and President Michael Greenberg will maintain their leadership roles after the acquisition. The company plans to continue various strategic initiatives, focusing on innovative products, international development, consumer expansion, domestic wholesale growth, global distribution, and investments in technology.
In late April, Skechers reported $2.41 billion in revenue during the first quarter, with a net profit of $202.4 million. However, it has retracted its revenue guidance for 2025, citing “macroeconomic uncertainty” due to global trade policies and tariffs affecting several trading partners.
Founded by Robert and Michael Greenberg in 1992, Skechers ranks as the third-largest footwear company globally, selling an impressive 297 million units last year. The company’s market capitalization was around $9.19 billion the day following the announcement of the 3G Capital deal.
