April 7, 2017 / 12:42 AM / 6 months ago

Samsonite says to buy U.S. online bag retailer eBags for $105 million

HONG KONG (Reuters) - Samsonite International S.A. (1910.HK) said on Friday it would buy U.S.-based online travel bags retailer eBags Inc for $105 million cash, as the luggage maker accelerates growth of its e-commerce business in North America and worldwide.

The deal, which will be funded by internal resources and a revolving credit facility, is expected to be completed in the second quarter of 2017, Samsonite said in a filing to the Hong Kong bourse.

Samsonite said earlier this week it had taken direct control of the wholesale and retail distribution of Tumi products in Hong Kong, Macau and China from April 1.

Reporting by Donny Kwok; Editing by Stephen Coates

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