Manhattan Beach-based shoe giant Skechers USA announced Monday that it will be acquired by 3G Capital Global Investment Firm.
Under the contract, which is estimated at around $9 billion, the company will continue to be led by Chairman/CEO Robert Greenberg, President Michael Greenberg and COO David Weinberg. The company is also headquartered in Manhattan Beach.
“Over the past 30 years, Skechers have experienced incredible growth,” Robert Greenberg said in a statement. With proven track records, Skechers will enter the next chapter in a partnership with global investment firm 3G Capital. ”
The deal requires 3G to pay $63 per share for all remaining shares of Skechers. The company represents a 30% premium of the company’s 15-day “volume weighted average stock price.” “It includes options for existing shareholders to receive $57.
“We are excited to be partnering with Skechers and look forward to working with Robert’s Caliber and the entrepreneurs in the talented Skechers team,” said Alex Behring and Daniel Schwartz, co-management partners at 3G Capital, in a statement of participation.
“Skechers is an iconic, founder-led brand with a track record of creativity and innovation. We have a huge admiration for the business this team has built and look forward to supporting the company’s next chapter.
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