On July 16, 2024, Austin, the entrance to the Sketchers Retail Store at Burton Creek Square Mall in Texas.
Brandon Bell | Getty images
Giant Skeches The retailer announced on Monday that the private equity firm agreed to be acquired by 3G Capital to be acquired for $ 63 per share, almost three decades as a public company.
Price agrees to pay 3G capital, represents 30% premium for current assessment of sketches on public markets, which is accompanied by similar acquisition deals. The shares of the sketches increased by more than 25% after the announcement of the transaction.
Sketches CEO Robert Greenberg said in a news release, “With a proven track-rid, sketches are entering their next chapter in partnership with Global Investment Firm 3G Capital.”
He said, “Given their remarkable history to facilitate some of the most reputable global consumer businesses, we believe that this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers, enabling the company’s long -term development,” he said.
The transaction comes at a difficult time for the retail industry and in particular, the footwear sector, which depends on discretionary expenses and foreign supply chains that are now in the crosshare of President Donald Trump’s trade war.
Last week sketches A letter signed The US trade group’s footwear distributors and retailers asked for exemption from Trump’s tariff.
And, a week ago, the scholars withdrew their 2025 guidance throughout the year “due to macroeconomic uncertainty from global trade policies” because companies brace for a decline in consumer spending, which will affect shoes and garment areas.
The sketches refused to say how much its supply chain in China is currently facing 145% tariffs, but warned that its two-thirds of the business is outside the US and therefore will not see that impact.
A source close to the deal said that the business environment did not force the sketches in a deal and 3G Capital was interested in attaining the company for years.
Tariffs offer some uncertainty in short term, but the 3G Capital believes that the long -term attitude of the scholars’ business is attractive and is well deployed for development, the person said.
Skeches is the third largest footwear company behind the world Nike And Adidas,
Greenberg will remain as CEO of sketches and will continue to implement the company’s strategy after the acquisition is completed.
