Skechers plans to transition to a private company in a $9.4 billion transaction.

In a significant move, footwear giant Skechers has agreed to be acquired by 3G Capital, the largest shareholder of Restaurant Brands International, for $63 per share in cash. The purchase price implies an enterprise value of about $9.4 billion.

The deal, expected to close in the third quarter, will see 3G Capital taking a gamble on Skechers being a durable franchise that will operate profitably at the end of this tariff period. This bet on the footwear sector's long-term viability comes amidst the ongoing trade tensions and tariffs imposed by the Trump administration.

3G Capital, founded by Jorge Paulo Lemann and his partners, has a history of facilitating the success of some of the most iconic global consumer businesses. Their portfolio includes major companies such as Anheuser-Busch InBev, Burger King, and Kraft Heinz, where they have made significant acquisitions and investments.

Skechers, which reported $2.41 billion in sales for Q1, a 7% year-over-year increase, has agreed to the acquisition. The company's founders believe this partnership will support Skechers' long-term growth. The release from Skechers states that 3G's partnership will support the company's team and meet the needs of consumers and customers.

Robert Greenberg, Chairman and CEO of Skechers, expressed his confidence in the partnership, stating that it will support Skechers' long-term growth. However, the company recently withdrew its 2025 financial outlook when it reported earnings last month due to macroeconomic uncertainty stemming from global trade policies.

Evercore analysts believe that the next few quarters will be best operated away from the eye of the public markets, suggesting a period of strategic planning and restructuring under 3G Capital's ownership.

Skechers will continue to be led by Chairman and CEO Robert Greenberg, President Michael Greenberg, and COO David Weinberg, providing a sense of continuity amidst the change.

This acquisition represents another significant move for 3G Capital, whose holdings also include Restaurant Brands International, which owns Tim Hortons, Burger King, and Popeyes. The story has been updated to reflect the companies 3G Capital owns shares in.