Investment fund 3G Capital has finalised its deal to take Skechers from the stock market: the investor bought the shoe brand for a little over eight billion euros.
Management stays on
Since last Friday, Skechers is no longer been listed on the New York Stock Exchange. The brand, which claims to be the number three in shoes worldwide, will continue within private equity group 3G Capital. The investor announced the deal back in May, but the transaction is only now officially completed.
Management remains in post: Robert Greenberg remains CEO and Michael Greenberg president. 3G Capital has an “owner-operator” strategy: the investment firm collaborates with acquired companies’ existing management teams and founder families, with the intention of achieving long-term growth.
