Skechers Sold to 3G Capital in Landmark $9.4 Billion Deal

Published 2 hours agoSKX

Skechers Sold to 3G Capital in Landmark $9.4 Billion Deal

Skechers, the well-known footwear giant, is set to be acquired by 3G Capital in a significant deal valued at approximately $9.4 billion. The acquisition will see 3G Capital purchase Skechers for $63 per share in cash, marking a 30% premium over the previous closing price, as reported by the Financial Times. This move continues the trend of high-profile acquisitions in the retail sector.

Despite the acquisition, the leadership of Skechers remains unchanged. Founder and CEO Robert Greenberg will stay on alongside the current management team, ensuring continuity in the company's operations. Additionally, Skechers will maintain its headquarters in Manhattan Beach, California, according to AP News. These decisions are likely designed to reassure both employees and consumers of stability during the transition.

Financial challenges continue to shadow Skechers, despite recording impressive sales figures. In Q1 2025, the company achieved record sales of $2.41 billion but cited macroeconomic uncertainties, such as U.S. trade tariffs, as reasons for withdrawing its annual forecast. These tariffs on Chinese imports present potential setbacks for profit margins and demand. Nevertheless, the acquisition deal has been unanimously approved by Skechers' board and is expected to conclude by the third quarter of 2025, according to the Financial Times.

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