Footwear company Skechers is set to be acquired by Brazilian private equity firm 3G Capital in a deal worth $9.26 billion. Skechers said that its senior management team will lead that transition alongside 3G Capital. The company will continue to be led by chairman and chief executive officer Robert Greenberg, president Michael Greenberg, and the rest of the current management team. The deal — which was unanimously approved by the Skechers board of directors — is expected to be closed by the third quarter.
“Over the last three decades, Skechers has experienced tremendous growth,” said Robert Greenberg, Chairman and CEO of Skechers. “Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering, and loyal partners. With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 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.”
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Following the transaction, Skechers would continue with its strategic initiatives in product design, international development, direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology.
Alex Behring, co-founder and co-managing partner, and Daniel Schwartz, co-managing partner of 3G Capital, added in a joint statement that they are “looking forward to working with the Skechers team. We have immense admiration for the business that this team has built, and look forward to supporting the company’s next chapter,” Behring and Schwartz said. “Our team at 3G Capital is built to partner with companies like Skechers.”
This transaction comes during a time of growing concerns over tariffs and trade worries. Many of its shoes are made in China and Vietnam, which have recently been targeted by the Trump administration’s sweeping tariffs.