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3G Capital Secures Majority Stake in Skechers in $9.4 Billion Deal

The private equity firm plans to take Skechers private, offering shareholders cash or equity options, while retaining CEO Robert Greenberg and his management team.

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Overview

  • 3G Capital has acquired 60% of Skechers shares, with plans to increase its stake to over 80% and delist the company from public trading.
  • The $9.4 billion deal values Skechers at $63 per share, a 28% premium over its last closing price, and offers shareholders a choice between full cash or a mix of cash and equity in a private holding.
  • Skechers CEO Robert Greenberg and the current management team will remain in place under the new ownership structure.
  • Skechers recently withdrew its full-year forecast due to uncertainty surrounding proposed U.S. import tariffs on Chinese-made goods, which could impact its supply chain and market conditions.
  • 3G Capital, led by billionaire Jorge Paulo Lemann, is known for its investments in global brands like Kraft Heinz and Burger King, and aims to leverage Skechers' $9 billion annual revenue and competitive market position.