Skechers Goes Private: 3G Capital Calls the Shots in $9.4 Billion Deal
Skechers, the giant you probably know for those chunky sneakers and casual kicks, just signed off on one of the footwear industry’s boldest moves in years. The company’s board greenlit a take-private deal worth $9.4 billion, handing the reins to 3G Capital, a Brazilian private equity powerhouse with a reputation for shaking things up.
If you're holding Skechers shares, things just got very interesting. The offer? Shareholders can pocket $63 a share in cash, which is nearly 28% higher than what the stock was trading at before the deal hit the news. There’s another flavor too: $57 a share plus an equity slice in a fresh parent company. It’s not your average buyout, and investors seemed to love it—Skechers’ stock exploded 25% within hours, though it’s still lagging a bit from the highs earlier this year.
Plenty of companies get nervous or start reshuffling when acquisitions like this happen, but not here. CEO Robert Greenberg, who’s been the face of the brand since the go-go 90s, isn’t going anywhere. Same goes for his son, President Michael Greenberg. Expect business as usual from their Manhattan Beach headquarters, which has become almost as iconic as their shoes.
Why Go Private Now? The Trade Uncertainty Question
So, why all this movement now? Skechers’ bosses said the future is fuzzier than ever. Global trade policies are in flux—and nobody’s certain what’s coming next—so the leadership dropped their 2025 financial predictions, citing all the noise around tariffs and shifting rules. That’s a gutsy call but makes sense when you realize that about 80% of Skechers’ U.S. footwear is made in China and Vietnam. Of course, executives were quick to say this deal isn’t really about the Trump-era tariffs still hanging around, but about positioning for an unpredictable future.
The interesting twist? While most of the shoes you see in the U.S. are imported from Asia, two-thirds of Skechers’ revenue flows in from outside the States. That global footprint probably makes the company more resilient to American trade policies, which get tossed around like a hot potato every election cycle.
For 3G Capital, Skechers is a catch. They’ve scored big with their style-first approach in an industry crowded by giants like Nike and Adidas. Whether this deal helps Skechers outpace rivals or just ride out the next wave of economic uncertainty is still anyone’s guess, but the market’s vote of confidence was loud and clear the moment the news broke.
