3G Founders Have $1 Billion Bet on Federer-Backed Shoemaker
- Lemann, Sicupira families own 14% stake in On Holding
- Swiss firm sells $200 sneakers named after the tennis legend
Roger Federer
Source: Jewel Samad/AFP/Getty Images
This article is for subscribers only.
Two families behind 3G Capital are major shareholders in an $8.8 billion shoemaker backed by Roger Federer that sells a $200 pair of sneakers named for the tennis legend.
Marc Lemann, son of 3G Capital founder Jorge Paulo Lemann, and Carlos Alberto Sicupira, who co-created the private equity firm, now hold a $1 billion combined stake in Zurich-based On Holding AG, filings show. The shares were spun out in the past two months from a stake accumulated since 2016 by an investment firm run by former 3G partner Alex Perez and represent about 14% of On’s stock.