Skechers goes private after acquisition completion by 3G Capital

Acquisition Details - 3G Capital has finalized the acquisition of Skechers, taking the footwear company private with a deal valued at $9.42 billion [1] - The acquisition price is set at $63.00 per share in cash for all outstanding shares of Skechers [1] - Shareholders have the option to receive $57.00 in cash and one "unlisted, non-transferable equity unit" in a new privately held entity [2] Management and Operations - Skechers will continue to be led by its executive management team, including CEO Robert Greenberg and president Michael Greenberg [2] - The company will remain based in Manhattan Beach, California [2] Business Performance - In the first quarter of fiscal year 2025, Skechers reported sales of $2.41 billion, reflecting a 7.1% increase from the same quarter a year ago [4] - Gross profit for the quarter was $1.25 billion, marking a 6.2% growth from the previous year, although gross margin contracted by 50 basis points to 52.0% due to lower average selling prices [4] Strategic Focus - Skechers plans to sustain its focus on product innovation, international expansion, direct-to-consumer channels, domestic wholesale growth, and investments in global distribution and technology infrastructure [3]