Footwear giant Skechers will be acquired by 3G Capital for $63 per share, a 30% premium to its current valuation on the public markets.Footwear giant Skechers will be acquired by 3G Capital for $63 per share, a 30% premium to its current valuation on the public markets.
Footwear giant Skechers
The firm will pay $63 per share in cash for Skechers, a 30% premium to the company’s current valuation on the public markets. Once the deal is closed, Skechers will become a privately held company.
“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” Skechers’ CEO Robert Greenberg said in a news release. “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.”
Greenberg will stay on as Skecher’s CEO and continue enacting the company’s strategy after the acquisition is completed.
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