Skechers to be acquired by 3G Capital in take-private deal, shares soar 25%

Footwear large Skechers has agreed to be acquired by non-public fairness agency 3G capital, the businesses introduced on Monday.

The agency can pay $63 per share in money for Skechers, a 30% premium to the corporate’s present valuation on the general public markets. As soon as the deal is closed, Skechers will change into a privately held firm.

“With a confirmed track-record, Skechers is getting into its subsequent chapter in partnership with the worldwide funding agency 3G Capital,” Skechers CEO Robert Greenberg stated in a information launch. “Given their outstanding historical past of facilitating the success of a number of the most iconic world shopper companies, we consider this partnership will assist our gifted workforce as they execute their experience to satisfy the wants of our customers and prospects whereas enabling the Firm’s long-term development.”

Greenberg will keep on as Skecher’s CEO and proceed enacting the corporate’s technique after the acquisition is accomplished.

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