By Savyata Mishra and Abigail Summerville

(Reuters) -Skechers has agreed to be taken private by 3G Capital for $9.42 billion in the footwear industry's biggest buyout to date, exiting public markets after 26 years as the popular shoe brand grapples with the impact of steep U.S. tariffs.

Investment firm 3G Capital has offered $63 per Skechers share in cash, the footwear brand said on Monday. That represents a 28% premium to the stock's Friday close, according to Reuters calculations.

Skechers shares jumped 25% to $61.86 on the news, regaining some ground after dropping nearly 30% this year as the company withdrew its annual results forecast in April and warned of the fallout from President Donald Trump's 145% import tariff on Chinese goods.

China accounts for a bulk of imports for the brand's U.S. business.

Needham analyst Tom Nikic said the deal talks may have been accelerated by the volatile macro environment - driven by tariffs, weakening consumer sentiment and troubled China-U.S. relations - and the company may have wished to navigate these challenges without being under Wall Street's scrutiny.

Skechers, Nike and Adidas America are among the companies that have urged Trump to exempt shoes from reciprocal tariffs, as American businesses face higher costs and shoppers tighten spending to brace for a potential rise in prices.

Founded in 1992, California-based Skechers started out as a brand focused on men's street style with the launch of its popular shoe "Chrome Dome", but has come to be known for its comfort-first sneakers.

The company has held up against stiff competition from legacy brands like Nike and newer entrants such as Hoka, thanks in part to its aggressive global expansion and focus on value. Its shoes are priced anywhere between $75 and $150 on its website, and the company has roughly 5,000 retail stores in over 120 countries.

Its marketing tie-ups with celebrities including Britney Spears and Kim Kardashian have also helped the brand boost its appeal and stay relevant.

DEAL 'SURPRISING'

Needham's Nikic said the deal was "very surprising" as Skechers has always been viewed as a "family business", with the founding Greenberg family highly involved in the operations.

Sources told Reuters Skechers was not running an auction and the deal was bilateral as 3G Capital has had a long relationship with the Greenbergs.

CEO and founder Robert Greenberg, aged 85, will continue to lead the firm, while president Michael Greenberg and operating chief David Weinberg would also retain their roles.

Buyout firm 3G Capital, controlled by Brazilian billionaire financier Jorge Paulo Lemann, is best known for its investments in the food and drinks sector through companies such as Kraft Heinz.

"3G's playbook of boosting margins through cost-cutting and efficiencies certainly creates the likelihood that we will see Skechers come public again in the distant future," TD Cowen analysts said.

The Skechers deal is expected to close in the third quarter of 2025 and will be financed through a combination of cash provided by 3G Capital as well as debt financing that has been committed by JPMorgan Chase Bank.

(Reporting by Savyata Mishra in Bengaluru and Abigail Summerville in New York; Editing by Devika Syamnath)