Skechers has agreed to be taken private by 3G Capital in a $9.42 billion all-cash deal, marking the largest buyout in the footwear industry to date.
3G Capital is offering $63 per share, a 28% premium over Skechers’ last closing price; the stock surged 25% after the announcement.
The buyout comes amid challenges including a 145% US import tariff on Chinese goods, which led Skechers to withdraw its 2024 guidance in April.
China is a key source of imports for Skechers, making it heavily exposed to the trade dispute.
Skechers had previously joined Nike and Adidas in urging the US government to exempt footwear from the tariffs.
American consumers have cut back spending amid inflation fears, impacting results at other companies like McDonald’s and Harley-Davidson.
Founded in 1992 and public since 1999, Skechers posted $8.97 billion in revenue in 2024.
The deal was not part of a competitive auction and came from a long-standing relationship between 3G Capital and the Greenberg family.
CEO Robert Greenberg, President Michael Greenberg, and COO David Weinberg will retain their roles post-acquisition.
Analysts found the deal surprising given Skechers’ history as a family-led business, but acknowledged the current macroeconomic volatility may have driven the decision.
3G Capital, known for backing Kraft Heinz, will finance the buyout with its own cash and debt arranged by JPMorgan Chase.
The transaction is expected to close in Q3 2025.
