Skechers to acquire in a $9 billion deal and privatize 3G Capital, with stock over 25%

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Skechers to acquire in a billion deal and privatize 3G Capital, with stock over 25%

Footwear brand Skechers said on Monday it has agreed to be acquired by investment company 3G Capital for a $9.4 billion contract. The deal comes as shoemakers struggle to deal with new tariffs imposed by President Donald Trump.

The companies said in a statement Monday that the Skechers board unanimously approved the deal.

According to the new deal, 3G Capital will privately own Skechers. The investment company will acquire Skechers for $63 per share, the company said in a statement Monday.

The deal is expected to be completed in the third quarter of this year, after which Skechers will become a private company.

Details of the Skechers protocol

The statement said that under the terms of the Authoritative Merger Agreement, 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, a premium for Skechers’ 15-day average share price.

The deal includes the choice of Skechers' existing shareholders, instead receiving $57.00 in cash and an undisclosed, non-transferable equity unit in the newly formed private company that will become Skechers' parent company.

Skechers reported $9 billion in revenue in 2024, with net income of $640 million.

According to the data company facts, China accounts for 15% of Skecher's revenue.

However, the press release did not mention the potential impact of President Donald Trump’s tariffs on future business.

Upon completion of the transaction, the company will continue to be led by Skechers Chairman and CEO Robert Greenberg and his management team. Its headquarters will remain in Manhattan Beach, California.