3G Capital intends to keep the founding family of the Skechers footwear brand close to the operation even after the company’s acquisition. Accustomed to a profile of proximity to the operation of her new business and long -term strategies, the manager has decided to keep leaders who have touched the company’s rapid expansion in the last 30 years.
On the morning of Monday (5), Skechers led by Brazilians Jorge Paulo Lemann, Marcel Telles, Carlos Alberto Sicupira and Alexandre Behring. Valued at almost $ 10 billion, the transaction is the largest in the history of the footwear industry.
The announcement of approval confirmed that the CEO and Chairman of the Board, Robert Greenberg, President Michael Greenberg, and CO, David Weinberg will continue in their positions.
A source close to the negotiations told the Infomoney That 3G Capital has a relationship of years with the brand Greenberg, founder of the brand, which created the conditions for the transaction. In addition to maintaining leadership positions, the family should be with much of the company’s remaining 20% participation after its discharge on the New York Stock Exchange.
Accustomed to a strategy of “owners”, 3G Capital evaluated that this time the business has been doing very well under the tutelage of current executives, said this source. In 30 years, the brand’s founding family has led Skechers to annual sales of $ 9 billion, behind only its two largest competitors in the shoe sector: Adidas and Nike, with a distribution force of 5,000 stores around the world in an industry growing 7% per year.
Changes in other management positions, as well as the definition of family and 3G seats in the Board of Directors, will be formalized after the closing of the business.
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3G offered to pay $ 63 per Skechers stock in cash to close the company’s capital, a 28% prize in relation to the closure of the action on Friday. Current shareholders will also have the option to receive a mixed consideration whose details were not disclosed.
“Given its remarkable history of facilitating the success of some of the most emblematic global consumer business, we believe this partnership will support our talented team in applying their expertise to meet the needs of our consumers and customers, while allowing the long -term company growth,” said CEO Robert Greenberg in a statement.
According to 3G Capital, the goal is to support the expansion of Skechers in areas such as international development, direct consumer channels, domestic wholesale and strategic investments in distribution, infrastructure and technology.
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The manager was responsible for the Turnaround of Restaurante Brands International, holding of Burger King, Popeye’s, Tim Horton’s and Firehouse subs. It also controls beer manufacturer Ab Inbev, Ambev, and the developer of Hunter Douglas curtains and blinds.
