Companies

Skechers to be acquired by 3G Capital

May 7, 2025 United States

The US-based sneaker company has agreed to be taken private by the investment firm 3G Capital in a deal worth 9.42 billion US dollars after nearly three decades as a public company

Under the terms of the transaction, shareholders will be offered 63.00 US dollars per share in cash for all outstanding shares of Skechers, representing a 30% premium to the company’s 15-day volume weighted average share price, or 57.00 US dollars in cash and one unlisted share of the newly formed and privately held company that will be the parent of Skechers.

According to the company’s statement, this deal represents “a transformational long-term partnership opportunity for Skechers to further evolve as a global leader in both lifestyle and performance footwear”. However, some analysts argue that the current volatile environment, driven by higher tariffs, weakening consumer sentiment and difficult US-China relations, may have accelerated the deal (reuters.com).

In the first quarter of 2025, Skechers’ sales in the Asia Pacific region decreased by 2.6% year-on-year to 589 million US dollars, driven by a 15.9% year-on-year decline in China.

The sneaker company will continue to be led by Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg.

“Over the last three decades, Skechers has experienced tremendous growth”, began Robert Greenberg, Chairman and Chief Executive Officer of Skechers. “With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital”.

He continued: “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”.

Controlled by Brazilian billionaire financier Jorge Paulo Lemann, 3G Capital is best known for its investments in the food and beverage sector through companies such as Kraft Heinz and Burger King.

“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. Skechers is an iconic, founder-led brand with a track record of creativity and innovation. 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.

The transaction is expected to close in the third quarter of 2025 and will be financed through a combination of cash provided by 3G Capital and debt financing provided by JPMorgan Chase Bank.

Image Credits: peru-retail.com

United States Acquisitions Companies Footwear Skechers