Shoe maker skirts Announced On Monday, it agreed to obtain an investment firm 3G capital in a $ 9.4 billion deal, which will make the company private after almost three decades as a public institution. It is The biggest deal by now The shoe industry was unanimously approved by the Scores Board of Directors.
In the third quarter of this year, the transaction will be stopped and will be financed through 3G capital in cash as well as JP Morgan Chase Bank with loan financing. Bloomberg. 3G Capital has agreed to pay $ 63 per share, 30 % premium The average stock price of Scachers.
After the contract is closed, Scachers will no longer be listed on the New York Stock Exchange. The company is still led by the founder, chairman, and CEO Robert Greenburg and its current leadership team, including COO David Vanberg.
“With a proven track record, Scores is entering their next chapter in partnership with the Global Investment Firm 3G Capital.” Described in the press release. “Given their remarkable history of facilitating the success of the most famous businesses of global consumer, we are confident that this partnership will help our talented team as they will perform their skills to meet the needs of our customers and consumers while enabled the company’s long -term growth.”
Scores founder Robert Greenburg (left) and son Michael Greenburg (right) in the Sccher Display Room. Photo of Carlos Chavez/Los Angeles Times by Getty Images
Scores is one of the many shoes companies Signed a letter Last week, President Donald Trump was asked to recover from Mutual ratesWhich are on the basic line of 145 % for imports from China and 10 % for all countries.
Related: Duty -free -free loophole closed on Friday on cheap goods from China. That is how it will affect your wallet.
“As a US shoe business, manufacturers and retailers, we urge you to exempt shoes from mutual revenue,” on the letter, which was signed by Nike, Adidas, Under -Armer, and Poma. It states that revenue can cause “adequate cost” and reduce shoes in the United States.
Have scales The third largest Shoes company in the United States, with market capitalization .2 9.25 Billion Was the shoe maker at the time of writing Established In 1992 and in 1999, the initial public proposal costs $ 11 per share.
Most of the scales Recent income reportReleased last month, it shows that sales reached a record high $ 2.41 billion during the first quarter of the year ended March 31, which is 7.1 % higher year. During the quarter, wholesale sales increased by 7.8 %.
The company said in the report that strong quarter sales reflect “strong global demand”. International sales outside the United States have contributed 65 % to the Scores business.
Related: Analysts such as Fit -off Scores USA
Meanwhile, 3G Capital has made a name for himself with himself Emphasis On the cost and reorganization, it was founded in 2004. Firm is focusing on Budget based on zeroOr, instead of starting with the last quarter of the last quarter, starts at zero for each new quarter.
3G capital agreed to buy majority shares in Blinds and Shutter Douglas NV before 1 7.1 billion In 2021. Firm Archesstrad The 2015 integration between the Craft Foods Group and the HJ Hainz Company with the help of Warren Buffett’s Burkeshire Heathwei.
Scachers’ shares ended More than 24 % At the time of writing