3G Capital to pay USD 63 per share in cash for Skechers, representing a premium of 30 per cent to the Company’s 15-day volume-weighted average stock price
As the growing trade tensions cast uncertainty over the United States (USD) companies, Skechers USA Inc will be acquired for more than USD nine billion by investment firm 3G Capital, the company said on Monday. 3G Capital will pay USD 63 per share in cash, representing a 30 per cent premium to Skechers’ 15-day volume-weighted average stock price
The agreement, unanimously approved by Skechers’ board, sent shares of the athletic footwear company soaring nearly 25 per cent to USD 61.56 in Monday trading.
The acquisition marks one of the largest consumer retail deals in recent years and underscores investor interest in global brands with resilient international revenue streams. Skechers, headquartered in Manhattan Beach, California, generates about two-thirds of its sales outside the United States, with China accounting for roughly 15 per cent, according to FactSet.
The companies did not address potential fallout from US President Donald Trump’s escalating tariffs on Chinese goods. Earlier this year, the White House raised duties on imports from China to 125 per cent, prompting a retaliatory hike from Beijing to 84 per cent. The rising trade barriers have left global manufacturers scrambling to reassess supply chains.
Skechers, like many apparel and footwear companies, relies heavily on Asian production, with many of its shoes labeled “Made in China.” Executives have acknowledged the impact of tariffs but said the company is exploring ways to offset costs, including sharing expenses with vendors, adjusting prices, and shifting sourcing.
“The current environment is simply too dynamic from which to plan results with a reasonable assurance of success,” Chief Financial Officer John Vandemore said during Skechers’ April earnings call, noting the company’s reluctance to provide forward guidance. He cited an effective tariff rate of about 159 per cent on products shipped from China to the U.S. as a major challenge.
Skechers reported record revenue of USD 9 billion in 2024, with net earnings of USD 640 million. The company operates approximately 5,300 stores globally, including 1,800 that are company-owned.
Upon completion of the transaction, Skechers will remain headquartered in Manhattan Beach and continue to be led by Chairman and CEO Robert Greenberg and his current management team. The deal is expected to close in the third quarter of 2025.
