The entrance to the Sketchers retail store at the Barton Creek Square Mall on July 16, 2024 in Austin, Texas.
Brandon Bell | Getty images
Giant shoes Skechers agreed to be acquired by the 3G capital investment company for $ 63 per share, ending its race for almost three decades as a public company, the retailer announced on Monday.
The 3G capital price agreed to pay represents a 30% bonus to the current evaluation of Skechers on public procurement, which is online with similar buyout agreements. Skechers' shares have climbed more than 25% after the transaction was announced.
“With a proven track record, Skechers is entering its next chapter in partnership with the world investment company 3G Capital,” said CEO of Skechers, Robert Greenberg, in a press release.
“Given their remarkable history to facilitate the success of some of the most emblematic global consumer companies, we believe that this partnership will support our talented team when they execute their expertise to meet the needs of our consumers and our customers while allowing the business growth of the company,” he said.
The transaction arrives at a difficult time for the retail industry and in particular the shoe sector, which is based on discretionary expenses and supply chains abroad which are now in the reticle of the trade war of President Donald Trump.
Skechers last week signed on a letter Written by shoe distributors and America Trade Group retailers requesting an exemption from Trump's prices.
And, a little more than a week ago, Skechers withdrew its directives from 2025 in the full year “due to macroeconomic uncertainty resulting from global trade policies” while businesses are preparing for a drop in consumption expenses that will have a disproportionate impact on the shoe and clothing sectors.
Skechers refused to say what part of his supply chain is based in China, which is currently facing 145%tariffs, but warned that two thirds of its activities are outside the United States and will not see so much impact.
A source close to the agreement said that the commercial environment had not trained Skechers in an agreement and that the 3G capital was interested in acquiring the company for years.
The prices have a certain short -term uncertainty, but 3G Capital believes that the long -term perspectives of Skechers are attractive and are well positioned for growth, said the person.
Skechers is the third largest shoe company in the world behind Nike And Adidas.
Greenberg will remain as CEO of Skechers and will continue to promulgate the company's strategy once the acquisition is completed.
