Skechers has announced its acquisition by private equity firm 3G Capital in a monumental $9.4 billion deal, making it the largest transaction in the footwear industry. The Skechers board unanimously approved the acquisition, which is set to close in the third quarter of the year. After the deal, Skechers will remain managed by its current leadership while transitioning to a private company, with the acquisition price being $63 per share, representing a 30% premium over its market value. The move comes amid an ongoing discussion about tariffs affecting the footwear sector.
"With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital," Greenberg stated in a press 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."
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