3G Capital to acquire shoemaker Skechers for $US9bn

Skechers is being acquired and taken private by the investment firm 3G Capital.

The board of Skechers unanimously approved the $US9 billion ($A14 billion) deal, the companies said on Monday.

The offer of $US63 per share represents a premium of 30 per cent to Skechers' 15-day volume-weighted average stock price, the companies said.

Skechers shares jumped 25 per cent at the opening bell Monday, to $US61.72.

Skechers reported a record $US9 billion in revenue in 2024 with net earnings of $US640 million.

China accounts for 15 per cent of Skecher's revenue, according to the data firm FactSet.

About 97 per cent of the clothes and shoes purchased in the US are imported, predominantly from Asia, according to the American Apparel & Footwear Association.

Using factories overseas has kept labour costs down for US companies but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs announced by US President Donald Trump's administration.

Following completion of the transaction, the company will continue to be led by Skechers chairman and CEO Robert Greenberg and his management team.

Its headquarters will remain in Manhattan Beach, California where it was founded more than three decades ago.

The deal is expected to close in the third quarter this year.