We deliver! Get curated industry news straight to your inbox. Subscribe to Adweek newsletters.
Skechers USA will be walking with a new bounce, as investment firm 3G Capital acquired the footwear company for $9 billion.
The deal—valued at $63 per share, a 30% premium to the company’s current valuation—will take the third-largest footwear company private, ending a 26-year run as a publicly traded company.
In a statement, Skechers CEO Robert Greenberg, who will remain in his role, said, “With a proven track record, Skechers is entering its next chapter in partnership with global investment firm 3G Capital.”
He added, “Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the company’s long-term growth.”
According to CNBC, 3G Capital has been interested in acquiring Skechers for several years.
The uncertainty surrounding the tariffs imposed by President Donald Trump was not a factor in facilitating the acquisition.
However, Skechers withdrew its full-year-2025 guidance, citing “macroeconomic uncertainty stemming from global trade policies.” The tariffs should not impact its financial standing, as two-thirds of its business occurs outside of the U.S.
Despite that, the footwear maker added its name to a letter written by Footwear Distributors and Retailers of America seeking some form of reprieve or exemptions from the tariffs.
Skechers shares jumped 25% when the acquisition news was announced Monday.
