3G Capital Steps Up with $9.4 Billion Skechers Acquisition

It’s not every day that a retail giant like Skechers decides to leave Wall Street behind. The latest twist? Brazilian private equity player 3G Capital just dropped a $9.4 billion offer to take the world’s third-largest footwear brand private. Announced on May 5, 2025, this move signals a bold new chapter for the company that’s been outpacing rivals and winning over feet worldwide.

Here’s what makes this deal stand out: 3G Capital has agreed to pay $63 per share for all outstanding stock, handing current holders a hefty 27.6% premium compared to Friday’s market price, and roughly 30% above the 15-day average. Shareholders get options: take the all-cash route, or mix it up with $57 per share plus a piece of the newly private entity. That flexibility makes the proposal even more attractive to those who want a stake in what’s to come.

If you’re holding Skechers stock, you’ve probably noticed the bounce—shares soared nearly 25% on news of the deal, despite sagging about 8% since January. The final handshake is expected by Q3 2025, provided regulators give it the green light. Law firm Paul, Weiss steered 3G Capital through the intricacies, with some top legal names on the case.

Why This Deal, and Why Now?

So what’s behind Skechers making this move? The company, led by founder and CEO Robert Greenberg, racks up a massive $9 billion in annual sales. But it’s been walking a tightrope lately, especially on the supply chain front. About 80% of Skechers’ shoes are imported from Asia—split almost evenly between China and Vietnam. Recent U.S. trade policies, especially the huge 145% tariff on Chinese shoe imports introduced under President Trump, have sent production costs climbing and complicated long-term planning.

That uncertainty has already forced Skechers to pull back its profit guidance for 2025. For a brand positioning itself as the affordable, quality alternative to pricier names like Nike and Adidas, that kind of volatility isn’t just a headache—it’s a business risk. Taking the company private helps shield it from the wild swings of the stock market and gives leadership more freedom to adapt and invest without worrying about quarterly earnings calls.

Robert Greenberg isn’t going anywhere. As the driving force behind Skechers’ global expansion and its focus on durable, innovative, and wallet-friendly shoes, he’s sticking around post-acquisition. Greenberg’s substantial voting power played a big role in lining up support among investors for the deal—he believes steady hands and a clear strategy can steer Skechers through choppy economic waters.

For 3G Capital, known for shaking up industries with deep restructuring and relentless cost control, Skechers is more than just a household name. It’s a growth machine with international reach, branding muscle, and untapped potential away from the pressures of public ownership. With the market’s reaction already signaling support, retail watchers are eager to see what the next phase has in store for this sneaker stalwart.