3G Capital buys US shoe firm Skechers for $9 billion to take it private

Global investment firm 3G Capital is acquiring US shoe firm Skechers for more than $9 billion to take it private.

Under the terms of the deal, Skechers shareholders can opt to be bought out at $63 per share, or a 30% premium to the company’s 15-day volume-weighted average stock price, or can receive $57 in cash and a holding in a new private parent that will control the footwear company.

Going private may help the third-largest global sports footwear retailer navigate US President Donald Trump’s trade war without the pressure of the reporting requirements of a publicly traded firm.

Chief executive Robert Greenberg, who founded Skechers in 1992, will continue to lead the company, along with the existing management team.

His son Michael Greenberg will remain president, and the firm will retain its headquarters in California.

While 3G is known to use companies it buys as vehicles to acquire rivals and dominate a sector, this time it was more likely to focus on expanding the group from within, the Financial Times reported, citing unidentified people close to the investment firm.

In the past, 3G had tied up with Warren Buffett to merge Kraft and Heinz, and is now returning to major dealmaking after a long search for the right target.

In the early 2000s, its Brazilian founders joined forces with Belgium’s Van Damme, de Spoelberch, and de Mévius families to merge AmBev and Interbrew, forming InBev. This entity later acquired Anheuser-Busch, creating AB InBev—the world’s largest brewer.

The Skechers acquisition is 3G’s first major deal since late 2021 when it agreed to acquire 75% of Hunter Douglas, the Dutch maker of window coverings and architectural products, from the Sonnenberg family in a $7 billion deal.

In a rare move for a take-private deal, 3G is allowing regular Skechers shareholders to retain a small stake in the company—a sign of its strong confidence in Skechers’ long-term growth potential.

Skechers reported a record Q1 2025 revenue of $2.41 billion but withdrew its full-year forecast, citing “macroeconomic uncertainty stemming from global trade policies.”

Like many footwear brands that manufacture largely in China and Southeast Asia, Skechers has been hit hard by Trump’s tariffs.

Last year, the US accounted for 38% of Skechers’ global revenue, while China and Vietnam were key production hubs.

In a securities filing on Friday, Skechers warned that current US tariff policies “pose a significant risk to our business operations,” potentially squeezing margins, raising retail prices, and dampening consumer demand.

Last week, Skechers joined other major footwear firms in urging Trump to exempt shoes from steep “reciprocal” tariffs—most of which are now paused—warning of “an existential threat” to the American footwear retail industry.

The letter noted that importers face tariffs ranging from over 150% to nearly 220%, forcing retailers to halt orders and leaving inventories at risk of running dry.

The deal has been unanimously approved by Skechers’ board and is expected to close in the third quarter.

“Skechers is an iconic, founder-led brand with a track record of creativity and innovation. We have immense admiration for the business that this team has built, and look forward to supporting the company’s next chapter,” 3G said in a statement.