3G Capital to take Skechers private in US$9.42b buyout
Brazillian investment firm 3G Capital has struck a deal to acquire Skechers for US$9.42 billion ($14.7 billion), removing the California-based sneaker maker from the stock exchange after 26 years. The all-cash offer of US$63 ($98.1) a share represents a 28 percent premium to the company’s last close.
Transaction snapshot
Deal value – US$9.42 bn ($14.7 bn)
Deal multiples – N/A
Deal type – Take-private acquisition
Investors – 3G Capital (equity); debt underwritten by JPMorgan Chase Bank
Skechers’ shares jumped 25 percent to US$61.86 on news of the agreement, clawing back some of the losses triggered by President Donald Trump’s 145 percent tariff on Chinese imports that dominate the brand’s supply chain. The tariff shock had already forced the company to withdraw its annual outlook, intensifying pressure to find a buyer able to operate away from Wall Street’s glare.
3G Capital’s approach was bilateral; no formal auction took place, reflecting its long-standing relationship with the founding Greenberg family. Chief executive Robert Greenberg, president Michael Greenberg and chief operating officer David Weinberg will stay in their current roles, and the family will retain a minority stake once the transaction closes, expected in the third quarter of 2025.
The private equity group, best known for transforming Burger King and Kraft Heinz, will fund the buy-out with a mix of its own capital and committed bank debt. Analysts note that 3G’s track record of aggressive cost control could position Skechers for a future relisting, once tariff uncertainty eases.
For Skechers, which operates about 5,000 stores in more than 120 countries, the deal offers breathing space to navigate volatile trade policy without the scrutiny of quarterly earnings targets. For 3G Capital, the turbulent macro backdrop provided a rare chance to secure a global consumer brand at a discount to its January valuation peak.
The agreement, the largest buy-out the footwear sector has seen, is due to complete after customary regulatory clearances.
