Footwear giant\u00a0Skechers\u00a0has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday.<\/p>\n
The price 3G Capital agreed to pay represents a 30% premium to Skechers\u2019 current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers soared more than 25% after the transaction was announced.<\/p>\n
\u201cWith a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,\u201d Skechers\u2019 CEO, Robert Greenberg, said in a news release.<\/p>\n
\u201cGiven their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company\u2019s long-term growth,\u201d he said.<\/p>\n
The transaction comes at a difficult time for the retail industry and in particular, the footwear sector, which relies on discretionary spending and overseas supply chains that are now in the crosshairs of President\u00a0Donald Trump\u2019s trade war.\u00a0<\/p>\n
Last week Skechers\u00a0signed onto a letter\u00a0penned by the Footwear Distributors and Retailers of America trade group asking for an exemption from Trump\u2019s tariffs.<\/p>\n
And, a little over a week ago, Skechers withdrew its full-year 2025 guidance \u201cdue to macroeconomic uncertainty stemming from global trade policies\u201d as companies brace for a drop in consumer spending that will disproportionately impact the footwear and apparel sectors.\u00a0<\/p>\n
Skechers declined to say how much of its supply chain is based in China, which is currently facing 145% tariffs, but cautioned that two-thirds of its business is outside of the U.S. and therefore won\u2019t see as much of an impact.\u00a0<\/p>\n
A source close to the deal who spoke on the condition of anonymity to discuss nonpublic details said the trade environment didn\u2019t force Skechers into a deal and that 3G Capital had been interested in acquiring the company for years.<\/p>\n
Tariffs do present some uncertainty in the short term, but 3G Capital believes the long-term outlook of Skechers\u2019 business remains attractive and is well positioned for growth, the person said.<\/p>\n
Skechers is the third-largest footwear company in the world behind\u00a0Nike\u00a0and\u00a0Adidas.<\/p>\n
Greenberg will stay on as Skechers\u2019 CEO and continue enacting the company\u2019s strategy after the acquisition is completed.<\/p>\n\n
Footwear giant\u00a0Skechers\u00a0has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday. The price 3G Capital agreed to pay represents a 30% premium to Skechers\u2019 current valuation on the public markets, which is in line with similar takeover <\/p>\n","protected":false},"author":0,"featured_media":34729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-34728","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/posts\/34728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/comments?post=34728"}],"version-history":[{"count":0,"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/posts\/34728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/media\/34729"}],"wp:attachment":[{"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/media?parent=34728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/categories?post=34728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/americanfinancecore.com\/index.php\/wp-json\/wp\/v2\/tags?post=34728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}