Skechers Walks Into A $9.4B Private Life With 3G Capital Acquisition

Footwear giant Skechers ($SKX) is trading in its public market sneakers for private equity loafers. The third-largest global footwear brand announced Monday it has agreed to be acquired by 3G Capital for $63 per share, valuing the deal at almost $9.4B and sending shares soaring over 25%. The purchase price represents a 30% premium to Skechers’ current market valuation, bringing its 26-year run as a publicly traded company to a close.

• Skechers’ CEO Robert Greenberg noted 3G Capital’s “history of facilitating the success of some of the most iconic global consumer businesses” will support the company’s “long-term growth.”
• The deal comes amid challenges for the footwear industry, with Skechers joining others in seeking tariff exemptions and withdrawing its 2025 guidance due to global trade uncertainty.

Walking the private path: Despite trade concerns creating uncertainty, sources close to the deal indicate 3G Capital had been eyeing Skechers for years and remains confident that the company’s long-term growth potential outweighs any short-term tariff concerns. With two-thirds of Skechers’ business operating outside the US, the impact of potential 145% Chinese tariffs may be somewhat mitigated compared to competitors. As the footwear giant steps away from public market scrutiny, investors will watch whether private ownership provides the stability needed to navigate rocky global trade terrain while maintaining its position behind only Nike ($NKE) and Adidas ($ADDYY) in the worldwide footwear rankings.