Skechers USA (NYSE: SKX) stock surged more than 24% in regular trading on Monday after the lifestyle footwear maker announced it would be taken private by investment firm 3G Capital in a deal valued at approximately $9.4 billion.
The agreement offers Skechers shareholders $63 per share, a 27.6% premium over the stock’s closing price on Friday. Shareholders will also have the option to receive $57 per share along with one unlisted, non-transferable equity unit in a newly formed private company that will become the parent of Skechers following the transaction.
The acquisition marks the largest buyout in footwear industry history and is expected to close in the third quarter of 2025. It will be financed through a mix of cash from 3G Capital and debt funding committed by JPMorgan Chase (NYSE: JPM).
Under the terms of the deal, Skechers’ leadership team will remain in place. CEO Robert Greenberg, 85, will continue to lead the company. President Michael Greenberg and Chief Operating Officer David Weinberg will also retain their current roles. The company will maintain its headquarters in Manhattan Beach, California.
“Over the last three decades, Skechers has experienced tremendous growth,” said Chairman and CEO Robert Greenberg. “With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital.”
He also expressed confidence that the partnership would help Skechers continue its long-term growth, supporting its team and meeting the needs of both consumers and customers.
3G Capital, controlled by Brazilian billionaire Jorge Paulo Lemann, is well-known for its investments in the food and beverage sector, including companies like Kraft Heinz (NASDAQ: KHC). The firm stated that the Skechers acquisition aligns with its strategy to invest in founder-led consumer brands.
In a joint statement, 3G Capital Co-Managing Partners Alex Behring and Daniel Schwartz said,
“Skechers is an iconic, founder-led brand with a track record of creativity and innovation.”
Founded in 1992, Skechers is one of the largest footwear brands in the world, having posted $9 billion in sales last year.
Skechers USA (NYSE: SKX) stock closed at $61.39 on Monday, recovering much of its losses from earlier this year. Shares had fallen nearly 30% after the company withdrew its annual forecast in April and warned of the impact from President Donald Trump’s proposed 145% tariff on Chinese imports.
Mark Glenn is a financial journalist and breaking news reporter for ABBO News. Mark is known for his ability to deliver real-time news updates on market developments, mergers and acquisitions, corporate earnings reports, and regulatory changes, helping investors stay informed and make sound financial decisions. Read Full Bio
