Skechers U.S.A., Inc., the Fortune 500 footwear company based in Manhattan Beach, has agreed to be acquired by 3G Capital, a global investment firm

Following the completion of the transaction, the company will continue to be led by Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and the rest of the current management team. It will remain headquartered in Manhattan Beach, where it was founded more than 30 years ago.

Skechers is one of the largest founder-led consumer product companies in the world with $9 billion in annual sales. For the first quarter of 2025, Skechers reported record sales of $2.41 billion, a year-over-year increase of 7.1%.

“Over the last three decades, Skechers has experienced tremendous growth,” said Skechers Chairman and CEO Robert Greenberg in a statement. “Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering, and loyal partners. With a proven track record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital. Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the company’s long-term growth.”

3G Capital will pay $63.00 per share in cash for Skechers, representing a premium of 30% to the company’s 15-day volume-weighted average stock price; and will offer all existing Skechers stockholders an alternative mixed consideration option.