3G Capital Partners LP unit 3G Capital, Inc. through 3G Fund Vi, L.P. entered into an Agreement and Plan of Merger to acquire Skechers U.S.A., Inc. (NYSE:SKX) from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others for $11.4 billion enterprise value ($9.7 billion equity value) on May 4, 2025. In connection with entering into the Merger Agreement, on May 4, 2025, Skechers entered into a support agreement with Robert Greenberg and other members of the Greenberg Family (each, a “Supporting Stockholder”), pursuant to which each Supporting Stockholder agreed to, among other things, elect to receive the Mixed Election Consideration in the transaction. 3G Capital Partners LP unit 3G Capital, Inc. through 3G Fund Vi, L.P completed the acquisition of Skechers U.S.A., Inc. (NYSE:SKX) from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others on September 12, 2025.
3G Capital Partners LP unit 3G Capital, Inc. paid $63.00 per share in cash to acquire all outstanding shares of Skechers U.S.A., Inc. from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others. The transaction included the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit of assumed value of $6 per share, in a newly-formed privately held company, Beach Acquisition Co Parent, LLC, which followed the closing of the transaction and became the parent company of Skechers (the “New LLC”). Both the Cash Consideration and Mixed Election Consideration were available to each share of Skechers stock on the same terms, regardless of whether it was Class A or Class B shares of Skechers stock.
