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Private equity company 3G Capital has reached a deal to buy Skegers and make the footwear company private.
The two announced it Billion dollar transactions On Monday, California-based Skechers said the deal received “unanimous” approval from the board.
Under this agreement, 3G Capital will purchase excellent Skechers shares for $63 each. “The existing shareholders of Skechers have the option to instead receive $57.00 in cash and one private, non-transferable unit. The newly formed private company will become Skechers’ parent company upon completion of the transaction,” the footwear company said. The entire contract is reportedly worth $9.4 billion.
Customers will shop at the Skechers store in Hong Kong on May 25, 2024. (Sebastian NG/SOPA Images/Lightrocket via Getty Images)
Purchases of 3G Capital’s Skechers are expected to be completed in the third quarter. For each Skechers, it is “satisfaction with customary closure conditions, including receipt of regulatory approval.”
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Skechers will suspend trading on the New York Stock Exchange once the private equity company has closed its transactions and officially makes the footwear company private. It was a company that has been in public for nearly 26 years. Ticker “skx”.
Skechers CEO Robert Greenberg said in a statement that the footwear company is “in the next chapter in collaboration with global investment company 3G Capital.”
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| SKX | Skechers USA Inc. | 61.39 | 0.00 |
0.00% |
“Given the remarkable history of driving the success of the most iconic global consumer business, we believe this partnership will support talented teams in implementing their expertise to meet the needs of consumers and customers while enabling long-term growth for businesses,” he said of 3G Capital.
The executives who currently run Skechers, including Robert Greenberg and President Michael Greenberg, will remain at the helm of footwear companies after the transaction, Skechers said.
The company also said it plans to continue its ongoing strategic initiatives, including design. Award-winning innovative productsinternational development, consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology. ”
Sneakers from Skehees Store in New York on Monday, May 5th, 2025. (Bing Guan/Bloomberg Via/Getty Images)
In late April, Skechers said it generated $2.41 billion in revenue in the first quarter. Meanwhile, its net profit reached $202.4 million.
The company has withdrawn its 2025 annual guidance.Macroeconomic uncertainty “In the implementation of tariffs by the Trump administration with almost all trading partners,” due to the world trade policy.
Co-founded by Robert and Michael Greenberg in 1992, Skeheses considers it to be the third largest footwear company in the world. Last year, a whopping 297 million units were sold.
the Market capitalization It hovered about $9.19 billion on Tuesday the day after it announced its 3G capital deal.
