Skechers is being acquired for $9 billion and taken private by the investment firm by 3G Capital. The board of Skechers unanimously approved the deal, the companies said Monday. The offer of $63 per share represents a premium of 30% to Skechers’ 15-day volume-weighted average stock price,

US-Brazilian investment group 3G Capital has agreed to acquire US footwear company Skechers for about $9.4bn in cash. The New York-based firm, best known for teaming up with Warren Buffett to merge Kraft and Heinz, is returning to major dealmaking after a long search for the right target.

Skechers agreed to become a privately held company through a $9.42 billion deal with 3G Capital. The footwear company said Monday 3G plans to pay $63 a share in cash for all of Skechers’s outstanding shares.