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Skechers Soars 25.87% on $9 Billion 3G Capital Acquisition

Mover TrackerMonday, May 5, 2025 9:15 am ET

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On May 5, 2025, Skechers U.S.A. saw a significant pre-market rise of 25.87%, driven by the announcement of a $9 billion acquisition by 3G Capital.

3G Capital, led by Brazilian billionaire financier Jorge Paulo Lemann, has offered to acquire Skechers for $63 per share in cash, representing a 30% premium over the company's 15-day volume-weighted average stock price. This acquisition marks a transformational partnership for Skechers, which will continue to be led by its current management team, including Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg.

The acquisition is expected to close in the third quarter of 2025, subject to regulatory approvals and other customary closing conditions. Upon completion, Skechers will become a privately held company, and its common stock will no longer be listed on the New York Stock Exchange. The transaction is financed through a combination of cash provided by 3G Capital and debt financing committed by jpmorgan chase Bank, N.A.

Skechers' management team expressed optimism about the partnership, highlighting 3G Capital's track record of facilitating the success of iconic global consumer businesses. The acquisition is expected to support Skechers' long-term growth and enable the company to continue executing its strategic initiatives, including international development, direct-to-consumer expansion, and strategic investments in global distribution, infrastructure, and technology.

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