Skechers Bought by 3G Capital

Skechers U.S.A. Inc. (Manhattan Beach, Calif.) announced that it has agreed to be acquired by private equity firm 3G for an estimated $9.4 billion. With 5300 company- and third-party-owned retail stores in the U.S. and overseas, Skechers says it is the third-largest footwear firm in the world (behind Nike and adidas).

“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” said Skechers Chairman and CEO Robert Greenberg, who will stay on after the deal closes. “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.”

In a joint statement, 3G executives Alex Behring and Daniel Schwartz said: “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.”

The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the stock market. Once the deal is done, 3G said Skechers “will continue to execute its ongoing strategic initiatives including designing award-winning and innovative product, international development, direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology.”

Skechers stockholders holding approximately 60% of the combined voting power of the outstanding shares of Skechers common stock have approved the transaction by written consent, the retailer noted. As a result, no further actions by other Skechers stockholders are needed to approve the transaction. The deal is subject to the satisfaction of customary closing conditions, including regulatory approvals. The transaction is expected to close in the third quarter of this year.

In its coverage of the deal, msn noted that it comes at a tumultuous time for retailers, who are dealing with consumer and supplier uncertainties about the Trump administration’s tariffs on imports, including footwear. Late last month, Skechers withdrew its full-year 2025 guidance “due to macroeconomic uncertainty stemming from global trade policies” the company said in a news release.

Skechers declined to say how much of its supply chain is based in China, which is currently facing 145% tariffs, but noted that two-thirds of its business is outside of the U.S. and therefore won’t see as much of an impact.

A source close to the 3G deal told msn the trade environment didn’t force Skechers into a deal and that 3G Capital has wanted to buy the company for years. Tariffs do present some uncertainty at present, but 3G Capital believes the long-term outlook of Skechers’ business remains attractive and is well positioned for growth, the person said.