Skechers to be acquired by 3G Capital in $9.4 billion deal, becoming private

The 3G Capital buyout is viewed as a strategic move to give Skechers enhanced operational flexibility and long-term planning outside the public market, especially amid changing global trade dynamics and growing competition in the footwear sector

Global footwear giant Skechers has entered into a definitive agreement to be acquired by global investment firm 3G Capital in a deal valued at $9.4 billion. The transaction will result in Skechers becoming a privately held company, with the deal expected to close by the third quarter of 2025.

Under the terms of the agreement, 3G Capital will purchase all outstanding Skechers shares at $63 each in cash, offering a 30% premium over the company’s 15-day volume-weighted average share price. The Skechers board has unanimously approved the deal.

Shareholders will also have the option to receive $57 per share in cash along with one unlisted, non-transferable equity unit in the new private entity that will become the parent company of Skechers. This structure is designed to offer flexibility for investors seeking to maintain a stake in the brand’s long-term growth.

Skechers reported record revenue of $9 billion in 2024, with net earnings of $640 million. The brand continues to maintain strong global traction, with China contributing approximately 15% of its annual revenue, according to FactSet.

Leadership to stay as stock soars post-acquisition

Post-acquisition, Skechers will retain its current leadership, with Chairman and CEO Robert Greenberg and his executive team continuing to steer the company. The company’s headquarters will remain in Manhattan Beach, California.

The announcement triggered a strong market reaction. Skechers stock surged over 25% in premarket trading, opening at $61.72 on Monday and peaking at $61.94 during the session, according to MarketWatch.

While the press release did not directly address the potential effects of new U.S. tariffs imposed under President Donald Trump, the timing of the deal suggests the company is proactively positioning itself to navigate ongoing trade uncertainties.