Skechers has entered into a definitive agreement to be acquired by investment firm 3G Capital in an all-cash transaction valued at approximately $9.4 billion.

According to the terms of this deal, 3G Capital will purchase Skechers for $63 per share, representing a 30 per cent premium over the brand’s recent stock price. The deal has received unanimous approval from the Skechers board of directors and is expected to close in Q3, FY25, pending regulatory approvals and customary closing conditions.

Founded in 1992 as a men’s footwear label, Skechers has grown into the third-largest footwear company in the United States. The brand went public in 1999 and made its debut on the Fortune 500 list in 2023, highlighting its rapid growth and strong market presence over the past three decades.

The acquisition comes at a pivotal time for both Skechers and the broader footwear industry. In April, the company reported record-breaking Q1, FY25 revenue of $2.41 billion, marking a 7.1 per cent Y-o-Y. However, despite the strong performance, Skechers withdrew its 2025 financial guidance, citing ongoing uncertainty in global economic conditions and trade dynamics.

Robert Greenberg, Chairman and CEO, Skechers will remain at the helm following the acquisition. He reaffirmed the company’s commitment to innovation and expressed optimism about the future with 3G Capital as a strategic partner.

Founded in 2004 as a spin-off of Brazil’s GP Investments, 3G Capital is well-known for its investments in major consumer brands such as Anheuser-Busch InBev and Kraft Heinz. Co-founders Alex Behring and Daniel Schwartz describe Skechers as ‘an iconic, founder-led brand with a proven history of creativity and innovation.’