Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday.

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, the companies said.

Skechers is going private with global investment firm 3G Capital for about $9.4 billion. Investors in the shoemaker have the option of $63 for every share they own, or $57 and one unlisted equity unit of the newly formed parent of Skechers. CEO Robert Greenberg and the Skechers executive team will continue to lead the company.