Skechers is acquired by 3G in $9bn deal

Skechers has agreed to be acquired by the investment firm 3G Capital in a $9.4 billion deal that will lead to the delisting of the US footwear company. It will continue to be managed by its Chairman and CEO, Robert Greenberg, President, Michael Greenberg, and Chief Operating Officer, David Weinberg.

Under the terms of the agreement, 3G Capital will pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30 percent to Skechers’ 15-day volume-weighted average stock price. The transaction includes the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit in a newly-formed, privately held company that, following the closing of the transaction, will be the parent company of Skechers.

Robert Greenberg, who founded Skechers in 1992, and other members of the Greenberg family have agreed for the cash and stock option, referred to as the mixed election consideration.

A maximum of 20 percent of Skechers’ common stock is eligible to receive the mixed election consideration. If shareholders representing more than the 20 percent threshold opt for that option, attribution will be subject to proration.

Skechers said that it “will remain focused on its successful strategy of delivering style, comfort, quality, and innovation at an affordable price” and that the two parties “have a shared vision for the long-term future growth of the business.”

“Over the last three decades, Skechers has experienced tremendous growth,” commented Robert Greenberg, “Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering, and loyal partners. With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital. 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.”

Skechers shareholders holding approximately 60 percent of the company’s voting power have approved the transaction by written consent. No further actions by other Skechers stockholders will be required to approve the transaction which is expected to close in the third quarter of 2025.

Following the takeover, Skechers will become a private company and will no longer be listed on the New York Stock Exchange.

Skechers posted $8.97 billion in sales in 2024 and went public in 1999 at a price of $11 a share.

Its collections are available in approximately 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com, and more than 5,300 Skechers retail stores.

Founded in 2004, 3G Capital is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner. It has invested in high-profile brands and companies such as Anheuser-Busch InBev, Restaurant Brands International (the parent company of Burger King and Tim Hortons) and Kraft Heinz.