Skechers, which claims to be the world’s third-largest shoe brand, on Monday said it’s agreed to be acquired in a roughly $9 billion deal by Brazilian private equity firm 3G Capital.
Skechers is the sort of consumer products maker that could get hit hard by Trump tariffs, and recently withdrew its annual guidance due to the uncertainty.
It currently imports all of its shoes sold in the U.S., including around 40% from China and 40% from Vietnam.
3G will pay $63 per share, which represents a 27.6% premium over Friday’s closing price.
Skechers shareholders also get an unusual option to receive $57 per share, and then roll over the remainder into the new, unlisted entity owned by 3G.
This isn’t 3G’s first major consumer deal, having previously purchased such companies as Burger King and Kraft Heinz.
Gonna have to sell one helluva lot of shoes to make up US$9B.