Skechers to Go Private as 3G Capital Acquires Footwear Giant in $9.42 Billion Deal
Published
Skechers U.S.A., Inc., the third-largest footwear brand in the world, has announced a definitive agreement to be acquired by private equity firm 3G Capital. The deal, valued at $9.42 billion, marks a significant turning point in Skechers’ 30-year history and will transition the publicly traded company into a privately held entity.
Under the terms of the agreement, 3G Capital will acquire all outstanding shares of Skechers for $63 per share in cash, representing a 30% premium over the company’s 15-day volume-weighted average stock price. Alternatively, shareholders may opt for a mixed compensation package of $57 in cash plus one unlisted equity unit in the newly formed parent company, subject to a 20% cap on the total number of shares that can receive this option.
Despite the change in ownership, Skechers’ leadership remains firmly in place. Chairman and CEO Robert Greenberg, President Michael Greenberg, and COO David Weinberg will continue to guide the brand from its Manhattan Beach, California headquarters.
“Over the last three decades, Skechers has experienced tremendous growth,” said Robert Greenberg. “With 3G Capital, we believe we’ve found a partner that shares our long-term vision and commitment to innovation, brand growth, and community engagement.”
3G Capital expressed excitement and is best known for high-profile investments in brands like Burger King, Kraft Heinz, and Anheuser-Busch InBev. “Skechers is an iconic, founder-led brand with a proven track record of creativity and innovation,” said Alex Behring and Daniel Schwartz, Co-Managing Partners of 3G Capital. “We are thrilled to partner with Robert Greenberg and the team to support the company’s next chapter.”
The acquisition will allow Skechers to continue focusing on strategic priorities such as international growth, DTC expansion, and increased investment in infrastructure and technology. The company’s comfort-first design philosophy and diverse distribution strategy will remain core pillars of its private ownership model.
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Sneakerhead from South Florida who turned his passion into a career. When not writing for Sole Retriever, I enjoy attending concerts and catching the latest movies. Email: nick@soleretriever.com
