Skechers set to be acquired and taken private by 3G Capital in $9 billion deal, shares jump over 25%

Footwear brand Skechers on Monday said it had agreed to be acquired by investment firm 3G Capital in a $9.4 billion deal. The deal comes at a time when shoemaking companies are grappling with the new tariffs in the US imposed by President Donald Trump.

The board of Skechers unanimously approved the deal, the companies said in a statement on Monday.

Under the new deal, 3G Capital will take Skechers private. The investment company will acquire Skechers for $63 per share, the company said in a statement on Monday.

The deal is expected to close in the third quarter this year, after which Skechers will become a privately held company.

Skechers agreement details

Under the terms of the definitive merger agreement, 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30 per cent to Skechers’ 15-day volume-weighted average stock price, the statement read.

The transaction includes the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit in a newly-formed, privately held company that, following the closing of the transaction, will be the parent company of Skechers, it said.

Skechers reported a record $9 billion in revenue in 2024 with net earnings of $640 million.

China accounts for 15 per cent of Skecher's revenue, according to the data firm FactSet.

The press release however did not mention the potential impacts of President Donald Trump’s tariffs on its business going forward.

Following completion of the transaction, the company will continue to be led by Skechers Chairman and CEO Robert Greenberg and his management team. Its headquarters will remain in Manhattan Beach, California.

Skechers share price today

Shares of Skechers jumped more than 25 per cent to $61.90 in premarket after the announcement on Monday.

Skechers shares jumped 25 per cent at the opening bell on the day to $61.72.

During intraday trade, Skechers share price touched a high of $61.94, as per market tracking website MarketWatch.

Skechers stocks were trading 24.70 per cent higher at 61.57 at the time of writing this article.