Footwear firm Skechers acquired by 3G Capital in $9.4bn deal

Footwear giant Skechers has been acquired by a global investment company, 3G Capital, in a deal valued at $9.4 billion.

The acquisition will see Skechers become a privately held company, with 3G Capital paying $63 per share in cash.

Before the deal was announced, Skechers had a market value of approximately $7.4 billion. Shares surged nearly 25% on Monday, despite a 28% decline year to date through Friday’s close.

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“Skechers is an iconic, founder-led brand with a track record of creativity and innovation,” 3G Capital said in a statement. “We look forward to supporting the company’s next chapter.”

Founded in 1992 by Robert Greenberg, who remains CEO, Skechers has grown into the third-largest footwear brand in the U.S., with over 5,300 stores worldwide. The company’s headquarters will remain in Manhattan Beach.

Greenberg emphasised the brand’s continued commitment to innovation and growth. “With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” he said.

Alex Behring, co-founder of 3G Capital, praised Greenberg and his team, stating, “We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert’s calibre.”

The acquisition follows Skechers’ decision in April to withhold full-year earnings guidance, citing macroeconomic uncertainty linked to global trade policies.