Paul, Weiss, Rifkind, Wharton & Garrison, Kirkland & Ellis, Latham & Watkins advised on 3G Capital’s acquisition of one of the largest footwear brands in the world, Skechers.

Paul, Weiss advised global investment firm 3G Capital on its acquisition of Skechers U.S.A., Inc., the world’s third-largest footwear company with $9 billion in annual sales. Under the terms of the agreement, 3G Capital paid $63 per share in cash for all outstanding shares of Skechers, with the option for existing Skechers shareholders to instead receive $57 in cash and one unlisted, non-transferable equity unit in a newly formed, privately held company that became the parent company of Skechers following the transaction’s close. Skechers was delisted from the NYSE as of September 12.

The Paul, Weiss team was led by corporate partners Laura Turano, Dotun Obadina and Scott Barshay, and included partners Bradley Brown, John Kennedy, Patricia Vaz de Almeida, David Marshall, Mohammed Alvi and Andrew Day and counsel Nathan Mitchell; executive compensation partner Jarrett Hoffman; tax partners Jeffrey Samuels and Robert Killip and counsel Alyssa Wolpin; intellectual property partner Claudine Meredith-Goujon; antitrust partners Ross Ferguson, Nicole Kar and Marta Kelly and counsel Chad de Souza; real estate partner Peter Fisch; and environmental partner Stefanie Gitler.

Kirkland & Ellis advised 3G Capital in connection with the financing for its acquisition of Skechers (NYSE: SKX), a Fortune 500 company. The financing transaction included approximately $8 billion of new debt facilities, including a new $1.55 billion USD first lien term loan facility, €1.25 billion Euro first lien term loan facility, $1.6 billion USD first lien revolving credit facility, €1.0 billion Euro senior secured notes and $2.2 billion USD senior PIK toggle unsecured notes. The acquisition closed on September 12, 2025. The senior notes transactions closed on July 14, 2025 and were funded in escrow, which funds were released upon closing of the acquisition.

The Kirkland team included debt finance lawyers Jay Ptashek, Scott Rolnik, Matt Stummer, Yinan Guo, Alex Bender and Charlie Doyle; capital market lawyers Michael Kim, Alborz Tolou, Josh Korff, Soo Kyung Chae, Varun Baliga, Mary Aertker, Richard Hong, Grace Slicklen, Cedric Van den Borren, Rohan Sahai and Hayley Stoate; tax lawyers Jared Rusman, Tim Campany and Claire Oxford; investment funds lawyers Andrew Wright, Nadia Murad and Alec Manfre; derivatives lawyer Drue Santora; litigation lawyers Ellisen Turner and Lauren Schweitzer; and technology & IP transactions lawyers Seth Traxler, Joanna Schlingbaum and Molly Mahowald.

Latham & Watkins LLP represented Skechers in the transaction with a corporate deal team led by Los Angeles partner Steven Stokdyk, Bay Area/New York partner Josh Dubofsky, and Los Angeles partner Andrew Clark, with associates Stanley Onyeador, Taylor Ashton, Maya Rahwanji, Diana Chung, Joy Chen, and Shayna Servillas. Advice was also provided on M&A litigation matters by New York partner Blair Connelly, Washington D.C. partner Christian Word, and Orange County partner Kristin Murphy, with associates Tina Jensen and James Clark, with assistance from Caitlyn Brock; on benefits and compensation matters by Bay Area partners Maj Vaseghi and James Robinson, with associate Jennifer Lin; on public company representation matters by associates Grace Garcea and Teddy Finneran; on US antitrust matters by Washington, D.C. partners Mandy Reeves, Michael Egge, and Patrick English and Washington, D.C. counsel Francesca Pisano, with associate Charles McGrath; on ex-US antitrust matters by Brussels partner Héctor Armengod, with assistance from Klearchos Lazanas; on foreign direct investment matters by Brussels counsel Philipp Studt; on CFIUS matters by Washington, D.C. counsel Catherine Hein, with associate Christine Kalpin; on trade controls matters by Washington, D.C. partner Andrew Galdes, with associate Elliot Hecht; on finance matters by Los Angeles/New York partner Dennis Lamont; on tax matters by Los Angeles partner Pardis Zomorodi and Houston partner Christine Mainguy, with associate Lucas Migliano; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with associates Caroline Omotayo and Kiara Vaughn; on environmental matters by Los Angeles partner Aron Potash, with associate Matthew Green; and on real estate matters by San Diego counsel Achraf Farraj.