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Samsonite offers to buy premium luggage group Tumi for $1.8 bln

2016-03-04 04:17:00| Furniture - Topix.net

Samsonite International S.A. said on Friday it would buy Tumi Holdings Inc for $26.75 per share in an all-cash transaction valuing Tumi at $1.8 billion, as the world's biggest luggage group expands into the premium segment. "It will meaningfully expand our presence in the highly attractive premium segment of the global business bags, travel luggage and accessories market," Samsonite Chief Executive Officer Ramesh Tainwala said in a statement.

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Category:Consumer Goods and Services

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