Skechers U.S.A., Inc., one of the world’s largest footwear manufacturers, will be sold to 3G Capital, a global investment firm. According to the company’s website, the deal is valued at $63 per share, which is 30% higher than the average price over the last 15 days of trading. The total transaction amount will be $9.4 billion.
After the transaction is completed, Skechers, which has annual sales of $9 billion, will cease to be listed on the New York Stock Exchange and become a private company. The company will continue to implement its global growth strategy, which is focused on product innovation, international expansion, and direct sales.
Skechers will remain under the leadership of its current management, including Chairman and CEO Robert Greenberg. The company will remain headquartered in Manhattan Beach, California, which was founded over 30 years ago.
The transaction was funded by 3G Capital’s funds and debt financing from JPMorgan Chase.
The deal is expected to be completed in the third quarter of 2025.