Why Samsonite and Tumi are joining forces, Samsonite International SA is affairs Tumi for about $1.8 billion in cash, gluttonous to aggrandize its attendance in the affluence accoutrements market.
The aggregation said Thursday it's paying $26.75 per allotment for Tumi, a 33 exceptional over its closing amount Wednesday, afore The Wall Street Journal appear the companies were in alliance talks.
Tumi Holdings Inc. is based in South Plainfield, New Jersey. Its luggage, backpacks and briefcases are awash in 2,000 locations worldwide, with sales accretion $548 actor endure year.
Samsonite said it expects the accord to advance to amount accumulation in sourcing, logistics, sales and marketing, administration and even artefact development.
The accumulated aggregation will account on the Hong Kong Banal Exchange, area Luxembourg-based Samsonite's banal trades.
The aggregation said Thursday it's paying $26.75 per allotment for Tumi, a 33 exceptional over its closing amount Wednesday, afore The Wall Street Journal appear the companies were in alliance talks.
Tumi Holdings Inc. is based in South Plainfield, New Jersey. Its luggage, backpacks and briefcases are awash in 2,000 locations worldwide, with sales accretion $548 actor endure year.
Samsonite said it expects the accord to advance to amount accumulation in sourcing, logistics, sales and marketing, administration and even artefact development.
The accumulated aggregation will account on the Hong Kong Banal Exchange, area Luxembourg-based Samsonite's banal trades.
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