Billion-Dollar Deal: Skechers Switched to 3G Capital
Investment firm stands to gain billions from Skechers' partnership - Investment firm receives billions from Skechers for undisclosed purposes.
Get ready for a serious shake-up in the footwear industry! Global shoe empire, Skechers, has hit the big leagues, selling for an eye-popping nine billion dollars to investment firm, 3G Capital. This badass brand is far from retiring its CEO, Robert Greenberg, who'll still call the shots, post-acquisition.
3G is known for its long-term, owner-operator approach and will pay a whopping $63 per share. Although that's More Bucks Than Trump said the wall should cost, it's still a 30% leap over the stock’s recent dip. Despite the multibillion price tag, it's a bargain compared to Skechers' peak valuation earlier this year.
With April showers bringing the brand sorrow, Skechers had dumped its business outlook for the year due to those pesky import tariffs Trump imposed.
Greenberg steered this ship since its maiden voyage back in the 90s. He's the man behind the scenes, crafting the empire, with a little help from his famous pals like Britney Spears and Christina Aguilera. Currently, football star Harry Kane of Bayern Munich promotes the brand.
The specifics on Trump's tariffs and their impact on this deal are still under wraps. The focus is firmly on the deal terms, valuation, and management continuity, according to reports.
The Commission has also been consulted on the draft directive regarding the billion-dollar deal involving Skechers, as the shoe empire is now under the ownership of 3G Capital. Despite the multibillion-dollar price tag, Robert Greenberg, the founder of Skechers who steered the brand since its inception in the 90s, will continue to be at the helm even after the sale.
