Skechers, the famous footwear brand known for its innovative sneakers, announced at the beginning of May 2025 that it had entered into an agreement to be acquired by 3G Capital, a major Brazilian-U.S. investment firm. Upon completion of the merger, Skechers will become a privately held company.

The approximately $9.4 billion all-cash deal is set to close in the third quarter of 2025. Shareholders will receive cash consideration of $63.00 per share. This represents an approximately 30% premium to Skecher’s recent share price on the New York Stock Exchange. Alternatively, shareholders have the option to receive cash consideration of $57.00 per share plus one unlisted, non-transferable equity unit in the new privately held company that will become the parent company of Skechers upon closing.

Robert Greenberg, Skecher’s CEO, will continue to run the footwear company after the acquisition closes. Robert Greenberg is also set to receive an over $1 billion payout upon the consummation of the acquisition. His son, Michael Greenberg, will also serve as an executive at the company. The Greenberg family currently controls approximately 60% of the company’s voting power.

Founded in 1992 and based in California, Skechers is the third-largest footwear company in the world. It is also one of the largest consumer companies in the world to be led by its founder. Skecher’s business model consists of two reportable segments: wholesale and direct-to-consumer. The wholesale segment is focused on selling products to shoe stores, e-commerce platforms, and other distributors. The direct-to-consumer segment is focused on directly selling products to consumers through Skecher’s physical stores and e-commerce sites.

3G Capital has a successful track record. Founded in 2004, 3G Capital takes an owner-operator approach to its investments and strives to maximize value over the long-term. Using a strategy known as zero-based budgeting (ZBB), 3G Capital has gained a reputation for extensive cost cutting at its portfolio companies.

The firm is particularly well-known for its involvement in the $3.3 billion acquisition and restructuring of Burger King. As a result of the restructuring, Burger King became part of Restaurant Brands International, a public company with a portfolio that also includes Tim Hortons and Popeyes.

3G Capital recently acquired Hunter Douglas, a Dutch window coverings manufacturer, for $7.1 billion. Like Skechers, Hunter Douglas is a family operated business with a Chief Executive Officer on the older side.

Skechers CEO Robert Greenberg expressed optimism about the future of the company in partnership with 3G Capital. “Given 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’s long-term growth,” Mr. Greenberg stated.

In fiscal year 2024, Skechers generated around $9 billion in sales. Unlike many of its rival, Skechers is a less flashy brand. The brand instead emphasizes comfort and affordability, characteristics which have especially propelled its growth in global markets. Skechers is projected to have $10 billion in revenues by 2026.