Skechers to go private for US$9.42bil in biggest sneaker industry deal

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The Star 12h ago

Skechers to go private for US$9.42bil in biggest sneaker industry deal - The Star

Quick Summary:

Skechers has agreed to be taken private by 3G Capital for $9.42 billion in the footwear industry's biggest buyout to date, exiting public markets after 26 years as the popular shoe brand grapples with the impact of steep U.S.tariffs.

"3G's playbook of boosting margins through cost-cutting and efficiencies certainly creates the likelihood that we will see Skechers come public again in the distant future," TD Cowen analysts said.

Buyout firm 3G Capital, controlled by Brazilian billionaire financier Jorge Paulo Lemann, is best known for its investments in the food and drinks sector through companies such as Kraft Heinz.