11:45 AM EDT, 05/05/2025 (MT Newswires) -- Skechers USA ( SKX ) agreed to be acquired by investment firm 3G Capital in a deal that will see the footwear maker become a private company.

3G offered to buy Skechers at $63 per share in cash, representing a 30% premium to the stock's 15-day volume-weighted average price, according to a joint statement. Shareholders have an option to receive $57 in cash per share and one equity unit in a privately-held company that will become the parent of Skechers.

The total value of the deal, which is expected to complete in the third quarter, wasn't disclosed. Shares of Skechers were up 25% intraday. The stock is down about 8% so far this year.

"Given (3G's) 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," said Skechers Chief Executive Robert Greenberg.

Greenberg will continue to lead the company after 3G takes over.

The deal announcement comes less than two weeks after Skechers withdrew its 2025 financial guidance, citing uncertainty tied to global trade policies.

Last month, US President Donald Trump announced sweeping new tariffs on imports, including from China, but later declared a 90-day pause on certain duties for non-retaliating countries. Washington and Beijing have been in a deadlock, though China said Friday it was evaluating approaches made by US officials to kick off negotiations on tariffs.

Skechers last month reported first-quarter earnings of $1.34 per share, up from $1.33 a year earlier, while analysts had expected $1.17. Sales rose 7.1% year on year to $2.41 billion, below the $2.43 billion consensus view.

"We are thrilled to be partnering with Skechers and look forward to working with an entrepreneur of Robert's caliber and the talented Skechers team," 3G Capital co-managing partners Alex Behring and Daniel Schwartz said in the joint statement. "We have immense admiration for the business that this team has built, and look forward to supporting the company's next chapter."

Price: 61.60, Change: +12.23, Percent Change: +24.76