3G Capital to Take Skechers Private in a 9.4 Billion Dollar Deal

On May 5, 2025, global private equity firm 3G Capital announced it has reached a definitive agreement with American footwear brand Skechers to acquire the company and take it private in a deal valued at approximately 9.4 billion dollars.

According to the announcement, the transaction has been unanimously approved by the Skechers board of directors and is expected to close in the third quarter of 2025. Upon completion, Skechers will delist from the New York Stock Exchange and transition to private ownership.

The transaction offers two options for current shareholders. The first is a full cash payment of 63 dollars per share, which represents a premium of around 30 percent over the company’s volume weighted average trading price over the past 15 days. The second option offers 57 dollars per share in cash along with one non-tradable, non-transferable unit in the private holding company. However, this mixed offer is capped at 20 percent of outstanding shares and is subject to eligibility criteria.

Skechers: A Global Brand Built on Affordability and Comfort

Founded in 1992 and headquartered in Manhattan Beach, California, Skechers is currently the third largest footwear brand in the world. Its product lineup includes athletic, casual, and professional shoes. Known for delivering comfort and value across a wide range of age groups, the company operates in more than 180 countries and regions and runs over 5,300 stores globally.

In 2024, Skechers reported approximately 8.97 billion dollars in revenue, with 43 percent generated through direct to consumer channels. The company has been steadily expanding its international footprint and strengthening its digital presence, making it one of the most promising growth brands in the athleisure sector.

Economic and Policy Uncertainty Behind the Push for Privatization

The transaction also reflects how broader macroeconomic uncertainties are affecting Skechers’ strategic direction. In its first quarter 2025 earnings report, the company withdrew its full year guidance and cited trade policy risks and tariff exposure, particularly between the United States and China, as key concerns.

Approximately 15 percent of its revenue originates from the Chinese market, while most of its manufacturing remains concentrated in China, Vietnam, and other Asian countries.

3G Capital’s proposed buyout is seen as a pivotal step that will allow Skechers to operate free from the pressures of public market expectations. This will give the company more flexibility in responding to external policy shifts and in executing internal restructuring efforts.

According to the terms of the deal, Skechers’ founder and CEO Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg will remain in their current leadership roles. The company’s headquarters will stay in California.

After the transaction is complete, Skechers will continue to implement its strategic roadmap, which includes expanding into international markets, enhancing product innovation, growing its direct and online retail channels, and investing in global supply chain and infrastructure optimization.

3G Capital: A Proven Partner in Revitalizing Established Consumer Brands

As one of the most prominent private equity firms in the global consumer sector, 3G Capital is known for its focus on cost discipline and operational efficiency. Its past investments include co leading the merger of Kraft and Heinz with Berkshire Hathaway, as well as acquisitions in brands such as Anheuser Busch InBev, Burger King, and Tim Hortons.

This acquisition marks 3G Capital’s entry into the active lifestyle and footwear space, highlighting its keen interest in rising consumer demand for comfort driven products in the middle income segment.

With 3G Capital’s strategic support, Skechers gains access to long term resources and operational expertise. The move also signals a further concentration of competition in the global footwear industry. Whether Skechers can successfully upgrade its products and brand positioning in this new private setting may prove to be a defining factor in the next chapter of market realignment.