Skechers to be acquired by 3G Capital for $9.4 billion, going private.
From Yahoo Finance: 2025-05-06 12:29:00
Private equity firm 3G Capital acquired Skechers in a multibillion-dollar transaction, agreed upon by both parties and approved by Skechers’ board. The deal involves the purchase of outstanding shares for $63 each, with an option for existing shareholders to receive $57.00 in cash and an equity unit. The total deal is worth $9.4 billion.
The acquisition by 3G Capital is expected to be finalized in the third quarter, pending regulatory approvals. Once completed, Skechers will cease trading on the NYSE after almost 26 years as a publicly traded company under the ticker symbol “SKX.”
Skechers CEO Robert Greenberg expressed excitement about the partnership with 3G Capital, noting the firm’s history of supporting iconic consumer businesses. The current management team, including Greenberg and President Michael Greenberg, will remain in place post-transaction.
Skechers plans to continue its strategic initiatives post-acquisition, focusing on product design, international expansion, direct-to-consumer growth, wholesale development, and investments in distribution, infrastructure, and technology. The company reported $2.41 billion in first-quarter sales, with net earnings of $202.4 million.
Due to macroeconomic uncertainties related to global trade policies and tariffs, Skechers withdrew its annual guidance for 2025. The company remains committed to navigating challenges and driving long-term growth in partnership with 3G Capital.
Read more at Yahoo Finance: Skechers to go private following $9.4B deal with 3G Capital