3G Capital has agreed to acquire Skechers in a take-private transaction valued at $63 per share, marking a 30% premium to the company’s recent public market valuation.

The deal ends Skechers’ 26-year tenure on the public markets and reflects a strong vote of confidence from the private equity firm amid turbulent retail conditions.

Skechers shares jumped over 24% on news of the acquisition. The company, the world’s third-largest footwear brand behind Nike and Adidas, has recently faced growing uncertainty tied to global tariffs and reduced discretionary consumer spending. The firm withdrew its full-year guidance last week, citing macroeconomic instability linked to trade policy.

“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,” said Skechers CEO Robert Greenberg, who will continue to lead the company post-transaction.

Though Skechers is exposed to tariff pressures—particularly in China, which is now facing 145% tariffs—a source familiar with the matter noted that two-thirds of its revenue is generated outside the US, mitigating the immediate impact.

According to the same source, 3G Capital had long been interested in acquiring Skechers and sees strong long-term potential despite the near-term macro headwinds.

Source: Bloomberg