Regulators clear Skechers (NYSE: SKX) sale to 3G Capital affiliate

Rhea-AI Filing Summary

Skechers U.S.A., Inc. reported that all required antitrust and foreign investment regulatory approvals and clearances for its planned acquisition by Beach Acquisition Co Parent, LLC, an affiliate of funds managed by 3G Capital, have been received under the existing Merger Agreement. The parties currently expect the transaction to close on September 12, 2025, subject to remaining customary closing conditions.

The company also highlighted that stockholders of record must elect the form of merger consideration by 5:00 p.m. Eastern Time on September 5, 2025. Investors holding shares in street name are directed to follow instructions from their bank, broker, or other nominee. The filing includes extensive cautionary language on forward‑looking statements and points stockholders to the effective Form S-4/A information statement/prospectus for full details on the transaction and related risks.

Insights

M&A and corporate actions analyst

Skechers’ 3G Capital buyout passes all regulatory reviews and moves toward a targeted September 12 close.

The disclosure shows that Skechers and the 3G Capital–affiliated buyer have received all required regulatory approvals and clearances under antitrust and foreign investment laws for the previously signed merger. This removes a key execution hurdle and shifts focus from deal risk to completion logistics, with closing still conditioned on customary items in the Merger Agreement.

The company sets a clear timetable, indicating an anticipated closing on September 12, 2025 and a merger consideration election deadline for record holders at 5:00 p.m. Eastern Time on September 5, 2025. The extensive forward‑looking statement discussion emphasizes residual risks, including potential litigation, business disruption during the deal period, financing, and broader macro factors. Subsequent company reports and the already-effective information statement/prospectus are positioned as primary sources for terms, risks, and any changes to the expected timeline.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

What did Skechers (SKX) announce in this 8-K filing?

Skechers reported that it and Beach Acquisition Co Parent, LLC, an affiliate of funds managed by 3G Capital, have received all required regulatory approvals and clearances under antitrust and foreign investment laws for their previously announced merger, and they now anticipate closing the transaction on September 12, 2025, subject to customary closing conditions.

When is the expected closing date of the Skechers and 3G Capital transaction?

The parties currently anticipate that the acquisition of Skechers by Beach Acquisition Co Parent, LLC, an affiliate of funds managed by 3G Capital, will close on September 12, 2025, provided that the remaining customary closing conditions specified in the Merger Agreement are satisfied.

What is the deadline for Skechers stockholders to elect their merger consideration?

The filing states that Skechers stockholders of record must elect the form of merger consideration they wish to receive by 5:00 p.m. Eastern Time on September 5, 2025, in accordance with the Merger Agreement. Stockholders holding shares in street name are instructed to review materials from their bank, brokerage, or other nominee.

Who is acquiring Skechers and what is Beach Acquisition Co Parent, LLC?

Skechers is being acquired by Beach Acquisition Co Parent, LLC, a Delaware limited liability company that is an affiliate of investment funds managed by 3G Capital. This entity is the designated purchaser in the previously announced Agreement and Plan of Merger.

What forward-looking risks related to the Skechers transaction are highlighted?

The communication lists numerous forward‑looking risks, including the possibility the transaction is not completed on the anticipated terms or timing, potential litigation, business disruption during the pendency of the deal, retention of key personnel, financing arrangements, unknown liabilities or costs, macroeconomic and geopolitical conditions, and the risk that the transaction could be terminated under certain circumstances described in the Merger Agreement.

Where can Skechers investors find more detailed information about the merger?

Investors are directed to the effective registration statement on Form S‑4/A (File No. 333-287891), which includes the information statement/prospectus mailed to stockholders on or about August 5, 2025. Copies are available via the SEC’s website at www.sec.gov and, for Skechers filings, on the company’s investor website at https://investors.skechers.com/financial-data/all-sec-filings.

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Understanding 8-K Material Events →

Accepted by SEC EDGAR 08/28/2025 - 04:05 PM Learn about SEC filing dates

SKECHERS USA INC false 0001065837 0001065837 2025-08-28 2025-08-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 28, 2025

SKECHERS U.S.A., INC.

(Exact Name of Registrant as Specified in Charter)

Delaware		001-14429		95-4376145
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

228 Manhattan Beach Blvd
Manhattan Beach, California		90266
(Address of Principal Executive Offices)		(Zip Code)

(Registrant’s Telephone Number, Including Area Code): (310) 318-3100

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Class A Common Stock, $0.001 par value		SKX		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On August 28, 2025, Skechers U.S.A., Inc. (the “Company,” “we,” “us,” or “our”) and 3G Capital Partners L.P. (“3G Capital”), on behalf of Beach Acquisition Co Parent, LLC, a Delaware limited liability company (“Parent”), issued a joint press release announcing that the parties have received all of the regulatory approvals and clearances (including non-action or expiration of any applicable waiting period) under antitrust laws and foreign investment laws required by the previously announced Agreement and Plan of Merger, dated as of May 4, 2025, by and among the Company, Parent and other parties thereto (the “Merger Agreement”) in connection with Parent’s acquisition of the Company (the “Transaction”). The Parent is an affiliate of investment funds managed by 3G Capital. The parties currently anticipate the Transaction will close on September 12, 2025, subject to the satisfaction of customary closing conditions contained in the Merger Agreement.

The press release also stated that the deadline for the Company’s stockholders of record to elect the form of merger consideration they wish to receive in connection with the Transaction is 5:00 p.m. Eastern Time on September 5, 2025 pursuant to the Merger Agreement. The Company’s stockholders who hold shares in “street name” through a bank, brokerage or other nominee should carefully review any materials they received from their bank, brokerage or other nominee.

The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Special Note on Forward-Looking Statements

This communication includes certain disclosures which contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 including but not limited to those statements related to the Transaction, such as financial estimates and statements as to the expected timing, benefits and effects of the Transaction, the likelihood of completion of the Transaction, and information regarding the businesses of the Company and Parent, including Parent’s and the Company’s objectives, plans and strategies for future operations. In most cases, you can identify these statements by forward-looking words such as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “indicate,” “may,” “plan,” “potential,” “project,” “outlook,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes. These forward-looking statements, including statements regarding the Transaction, are based largely on information currently available to management of the Company and/or Parent and their current expectations and assumptions, and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Although the Company and Parent believe their expectations are based on reasonable estimates and assumptions, such expectations are not guarantees of performance. There is no assurance that the Company’s and Parent’s expectations will occur or that their estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements.

Important factors, risks and uncertainties that could cause actual results to differ materially from such plans, estimates or expectations include but are not limited to: (i) the completion of the Transaction on the anticipated terms and timing or at all and the satisfaction of other conditions to the completion of the Transaction; (ii) potential litigation relating to the Transaction, including the effects of any outcomes related thereto; (iii) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations during the pendency of the Transaction; (iv) the ability of the Company to retain and hire key personnel; (v) the diversion of Company and Parent management’s time and attention from ordinary course business operations to completion of the Transaction; (vi) potential business uncertainty and changes to existing business relationships, during the pendency of the Transaction; (vii) the ability of Parent to cause an initial public offering or another liquidity event, or to realize the anticipated benefits of and implementing its strategy following the Transaction within the expected time period or at all, or the risk that the successful implementation of such a strategy will not result in improved operating results or that certain stockholders may never realize a return on their investment; (viii) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (ix) the risk that there may be liabilities that are not known, probable or estimable at this time or unexpected costs, charges or expenses, including unexpected capital expenditures; (x) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business

opportunities or strategic transactions; (xi) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, outbreaks of war or hostilities or pandemics and other public health issues, as well as the response of management of the Company and/or Parent to any of these events; (xii) global economic, political, legislative, regulatory and market conditions (including competitive pressures), including the effects of tariffs, trade policies, trade wars, inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail market in the United States and the impact of war and other conflicts around the world; (xiii) the ability to obtain the necessary financing arrangements set forth in the commitment letter received in connection with the Transaction; (xiv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction; (xv) the risk that the Company’s stock price may decline significantly upon this announcement and while the Transaction is pending; (xvi) Parent’s ability to maintain the Company’s brand name and image with customers; (xvii) Parent’s ability to respond to changing consumer preferences, identify and interpret consumer trends, and successfully market new products; (xviii) the potential impact of the announcement or consummation of the Transaction on the Company’s relationships with suppliers, customers, employers and regulators; (xix) those risks and uncertainties set forth under the headings Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” in the information statement/prospectus, “Special Note on Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the Securities and Exchange Commission (“SEC”), which are available via the SEC’s website at www.sec.gov; and (xx) those risks that are described in the information statement/prospectus filed with the SEC in connection with the Transaction and available from the sources indicated below.

There can be no assurance that the Transaction will be completed, or if it is completed, that it will close within the anticipated time period. While the list of factors presented here is, and the list of factors presented in the registration statement on Form S-4/A are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. The forward-looking statements relate only to events as of the date on which the statements are made. Neither Parent nor the Company undertakes to update or revise, and expressly disclaims any obligation to update or revise, any of their forward-looking statements, whether resulting from circumstances or events that arise after the date the statements are made, new information, or otherwise, except as required by law. If one or more of these or other risks or uncertainties materialize, or if Parent or the Company’s underlying assumptions prove to be incorrect, Parent’s or the Company’s actual results may vary materially from what the parties may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of the parties’ forward-looking statements. You should specifically consider the factors identified in this communication that could cause actual results to differ. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect the Company or Parent.

Important Additional Information and Where to Find It

The registration statement (File No. 333-287891) containing the Company’s information statement and Parent’s prospectus was declared effective by the SEC on August 5, 2025 and the information statement/prospectus was mailed to the Company’s stockholders on or about August 5, 2025. This communication is not a substitute for the information statement/prospectus or registration statement or for any other document that the Company or Parent may file with the SEC and send to the Company’s stockholders in connection with the Transaction. STOCKHOLDERS ARE URGED TO READ THE INFORMATION STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. Stockholders will be able to obtain free copies of the information statement/prospectus and other documents filed with the SEC by Parent and the Company through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by the Company will also be available free of charge on the Company’s website at https://investors.skechers.com/financial-data/all-sec-filings.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Joint Press Release dated August 28, 2025.
104		Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				SKECHERS U.S.A., INC.
Date: August 28, 2025				By:		/s/ John Vandemore
				Name:		John Vandemore
				Title:		Chief Financial Officer