Samsonite hungry for acquisitions

The world’s largest luggage maker made a foray outside of travel bags in May but still has cash to put to work.
Ramesh Tainwala
Ramesh Tainwala

Hong Kong-listed Samsonite International, the world’s largest maker of luggage, is looking to bag more acquisitions.

The company, which raised $1.25 billion from its floatation in Hong Kong in 2011, made a foray outside its traditional luggage sector in May when it bought Speck Products, which distributes protective cases for smartphones. That $85 million acquisition looks like being the shape of things to come.

According to Ramesh Tainwala, Samsonite's chief operating officer, the company remains on the prowl for more deals to bolster growth and has the ability to undertake more than $1 billion worth of acquisitions. “We have a lot of firepower,” he told...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222