3G Capital has finalised its acquisition of Skechers, completing a deal first announced in May that takes the US footwear giant private. Skechers’ shares ceased trading on the New York Stock Exchange on September 12 following the transaction.

The California-based company, ranked as the world’s third-largest footwear brand, will remain under the leadership of chief executive Robert Greenberg and president Michael Greenberg.

Founded in 1992, Skechers has built a global presence with operations in around 180 countries and territories, selling lifestyle and performance footwear, apparel, and accessories. Its products are distributed through department stores, specialty retailers, online channels, and approximately 5,300 branded retail stores worldwide.

For 3G Capital, the acquisition underscores its strategy of partnering with established consumer businesses with strong global recognition. The New York-based firm, founded in 2004 and led by co-managing partners Alex Behring and Daniel Schwartz, has a history of acquiring and scaling iconic brands.

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