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Skechers is being acquired for $9 billion and taken private by the investment firm by 3G Capital.
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The board of Skechers unanimously approved the deal, the companies said Monday.
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The offer of $63 per share represents a premium of 30% to Skechers’ 15-day volume-weighted average stock price, the companies said.
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Skechers shares jumped 25% at the opening bell Monday, to $61.72.
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Skechers reported a record $9 billion in revenue in 2024 with net earnings of $640 million.
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In a press release announcing the deal on Monday, the companies did not mention the potential impacts of President Donald Trump’s tariffs on its business going forward. An email requesting comment was not immediately returned.
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China accounts for 15% of Skecher’s revenue, according to the data firm FactSet.
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About 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia, according to the American Apparel & Footwear Association. Using factories overseas has kept labor costs down for U.S. companies, but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs.
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Following completion of the transaction, the company will continue to be led by Skechers Chairman and CEO Robert Greenberg and his management team. Its headquarters will remain in Manhattan Beach, California where it was founded more than three decades ago.
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The deal is expected to close in the third quarter this year.
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English (US)