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Investing.com -- Skechers USA shares jumped more than 26% on Monday after the footwear giant announced it will be acquired by 3G Capital for $63 per share.
The all-cash offer represents a 30% premium over Skechers’ 15-day average stock price.
The transaction will take Skechers private and is expected to close in the third quarter of 2025.
“Over the last three decades, Skechers has experienced tremendous growth,” said Chairman and CEO Robert Greenberg. “With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital.”
Founded in Manhattan Beach, California, Skechers is one of the largest footwear brands in the world and posted $9 billion in sales last year.
The company will continue to be led by its existing senior management team following the deal’s completion.
3G Capital said the acquisition is part of its strategy to back founder-led consumer brands.
“Skechers is an iconic, founder-led brand with a track record of creativity and innovation,” said 3G Capital Co-Managing Partners Alex Behring and Daniel Schwartz.
Shareholders can choose between a full cash payout or a mix of $57 in cash and one equity unit in a new private parent company. The mixed option is capped at 20% of shares and includes restrictions on transferability and disclosure.
The transaction will be financed through a mix of 3G Capital’s funds and debt financing from JPMorgan Chase (NYSE:JPM).