Skechers Acquired by 3G Capital in $9 Billion Deal

Updated: 05 May 25

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Skechers has been acquired by 3G Capital for $9.4 billion in a deal marking a 28% premium over its stock's last closing price. The company, heavily impacted by U.S.-China trade tariffs, will remain headquartered in California and continue under its current leadership. The acquisition is expected to close by Q1 2025, financed through cash and debt.

Overview of the Acquisition

Skechers has entered into a definitive agreement to be taken private by the investment firm 3G Capital in a deal valued at $9.4 billion. Under the terms of the agreement, 3G Capital will pay $63 per share in cash, representing a 28% premium over Skechers’ last closing price and a 30% premium to its 15-day volume-weighted average price. The acquisition reflects 3G Capital’s confidence in the brand's potential despite the current challenges in the global trade environment.

3G Capital, founded by Brazilian billionaire Jorge Paulo Lemann, is well-known for its investments in the food and beverage sector, including partnerships with Kraft Heinz. This acquisition marks a significant move into the footwear industry for the firm. The deal is expected to close in the first quarter of 2025, pending regulatory approvals and customary closing conditions.

Impact and Future of Skechers

Post-acquisition, Skechers’ leadership team and corporate structure are expected to remain largely unchanged. Robert Greenberg, the company’s Chairman and CEO, will continue to lead the management team, while the headquarters will remain in Manhattan Beach, California. This continuity is aimed at ensuring operational stability and maintaining the brand’s identity during the transition.

The financing structure for the acquisition combines cash provided by 3G Capital and debt financing committed by JPMorgan Chase Bank. The acquisition comes amidst challenging economic conditions, including heightened U.S.-China trade tensions and rising tariffs on Chinese imports, which significantly impact Skechers’ supply chain. Despite these hurdles, 3G Capital's investment suggests optimism about the brand's long-term growth prospects and its ability to navigate the evolving global market landscape.