Footwear brand Skechers (NYSE: SKX) agreed to be acquired by investment firm 3G Capital in a $9.4 billion deal that takes the company private after 26 years on public markets, the company announced on Monday.
The all-cash transaction values Skechers at $63 per share, representing a 30% premium to its last closing price. Shares jumped approximately 25% following the announcement.
The deal comes as Skechers grapples with escalating US-China trade tensions. The company recently withdrew its full-year 2025 financial forecast, citing macroeconomic uncertainty from trade policies.
“With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” said Robert Greenberg, Skechers’ CEO, who will remain in his position following the acquisition.
Skechers, based in Southern California with 5,300 US stores, manufactures about 40% of its products in China. The company faces 145% tariffs on Chinese imports, significantly impacting its profit margins.
Last week, Skechers joined Nike, Under Armour, and other footwear companies in signing a letter to the Trump administration requesting exemption from tariffs, warning they could eliminate thousands of jobs and increase consumer prices.
The transaction, expected to close in Q3 2025, will be financed through a combination of equity from 3G Capital and debt arranged by JPMorgan Chase Bank. The firm, controlled by Brazilian billionaire Jorge Paulo Lemann, is primarily known for major investments in the food and beverage sector, including Kraft Heinz.
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