In a landmark transaction for the global footwear sector, private equity firm 3G Capital has agreed to acquire Skechers in a take-private deal valued at $9.42bn, marking the largest buyout in footwear industry history, according to a report by Reuters.
The all-cash transaction will see 3G Capital, which is best known for its investments in consumer brands such as Kraft Heinz, pay $63 per share, representing a 28% premium over Skechers’ closing price last Friday. Shares in the California-based footwear brand surged more than 25% following the announcement.
The deal comes amid mounting macroeconomic pressures, including sharply increased US import tariffs on Chinese goods – a significant headwind for Skechers, whose supply chain is heavily China-dependent. The company withdrew its full-year guidance in April, citing the impact of the recently imposed 145% tariff by the Trump administration.
Sources close to the matter told Reuters that Skechers was not running a formal sale process. Instead, the agreement was reached through bilateral negotiations, underpinned by 3G Capital’s longstanding relationship with the Greenberg family, who founded the brand and remain actively involved in day-to-day operations.
Robert Greenberg, Skechers’ 85-year-old Founder and CEO, will continue to lead the company, alongside President Michael Greenberg and COO David Weinberg.
Founded in 1992, Skechers has evolved from a streetwear-focused brand into a global comfort-first sneaker powerhouse, competing with giants like Nike and Adidas. Its pricing strategy and international retail footprint – nearly 5,000 stores across over 120 countries – have helped it maintain relevance despite intensifying industry competition.
The deal will be financed through a combination of equity from 3G Capital and committed debt facilities provided by JPMorgan Chase Bank. Closing is expected in Q3 2025, subject to customary regulatory approvals.
