Footwear brand Skechers has announced that it has agreed to be acquired by 3G Capital, a global investment firm built on an owner-operator approach to long-term investing.

Following the completion of the transaction, Skechers will continue to execute its ongoing strategic initiatives, including designing award-winning and innovative products, international development, direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology.

This transaction is a transformational long-term partnership opportunity for Skechers to further evolve as a global leader in both lifestyle and performance footwear. The company’s senior management team will lead that transition alongside 3G Capital, one of the foremost growth-focused investors in the world.

Further, the company will continue to be led by Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and the rest of the current management team. It will remain headquartered in its hometown of Manhattan Beach, California, where it was founded over 30 years ago.

Under the terms of the definitive merger agreement, 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30% to Skechers’ 15-day volume-weighted average stock price. 

For more information, visit skechers.com.