3G Capital to Acquire Skechers in $9.4 Billion Private Equity Deal

3G Capital’s Bold Move: Buying Skechers for $9.4 Billion

The global retail world woke up to a surprise on May 5, 2025. 3G Capital, known for shaking up brands like Burger King and Kraft Heinz, struck a deal to buy Skechers for a stunning $9.4 billion. This move isn’t just another big-money buyout—it could set the pace for the entire footwear market, putting heavy pressure on industry leaders and changing the landscape for millions of shoppers. If you thought sneaker wars were all about Nike and Adidas, it’s time to look again. Skechers is already the third-largest footwear brand in the world and, with 3G Capital’s backing, aims to get even bigger.

The agreement has Skechers shareholders on the receiving end of a nice windfall. Under the deal, shareholders get $63 per share—about 30% more than the company’s recent average stock price—shooting Skechers shares up nearly 25% right out of the gate to $61.72. What’s more, investors can decide between a straight $57 per share upfront or rolling some of their stake into the new private version of Skechers. It's a unique offer that helps keep everyone—from short-term traders to long-term believers—happy in a fast-moving market.

This acquisition isn’t just about turning Skechers into another big-name private company. There's a clear strategy here. Keeping Robert Greenberg, the founder and CEO, at the helm sends a message: if it isn’t broken, don’t fix it. Greenberg, who started Skechers back in the early ‘90s, remains a hands-on leader and a strong believer in creating shoes for real people—prioritizing comfort while others chase hype. With 3G’s track record of supporting consumer-focused brands, expectations for Skechers couldn't be higher.

What’s Behind This Deal? Challenges and Big Promises

Why is this happening now? Skechers isn’t just doing fine; it’s thriving. The company hauled in record-breaking revenues in 2024, hitting $9 billion in sales and net earnings of $640 million. China plays a major part in this growth, delivering about 15% of revenue, and both China and Vietnam are at the heart of Skechers’ production power. That said, there’s a twist. The U.S. slapped a crushing 145% tariff on footwear coming in from China, making it pricier to get shoes onto American shelves. It’s a constant battle for Skechers management—either eat the cost or pass it on to customers.

Taking Skechers private lets the brand make risky, long-term bets without Wall Street breathing down its neck. Public markets often force companies to focus on quarterly numbers and short-term results. Now, Greenberg and his team have the freedom to revamp supply chains, invest in tech, and lean harder into global expansion—especially in places where cost and trade politics shape every decision. Plus, 3G Capital’s reputation for shaking up operations (sometimes tough love, sometimes bold investment) means we could see Skechers move faster and punch harder in competitive markets.

Skechers has built its reputation by going against the grain. While Nike and Adidas target athletes and young urban crowds with endorsements and flashy styles, Skechers owns the comfort game. From memory foam soles to casual kicks and durable work shoes, they keep growing by paying attention to what the average person actually wants. No crazy marketing gimmicks. No chasing fast-fading trends. That approach is paying off, especially as shoppers look for lasting value over big names and marketing spin.

Of course, the road ahead isn’t easy. Trade rules can shift overnight, and tariffs force tough decisions. Rising costs from China, the volatility of global supply chains, and ever-changing consumer taste all rank high on the risk list. But by stepping away from public market scrutiny, Skechers can pursue innovations and partnerships that might have been impossible before. This deal could open the door for more brands facing similar global headwinds to try private ownership on for size.

This acquisition is more than just a money move—it's a bet that a comfort-first, flexible, and globally-minded approach can win big in today’s rocky retail world. All eyes are on Skechers and 3G Capital as they lace up for their next race.