Global buyout firms, including Carlyle Group Inc. and KKR & Co., have expressed initial interest in a potential acquisition of Samsonite International SA, sources familiar with the matter revealed. Other private equity players, such as Bain Capital and CVC Capital Partners, are also evaluating the possibility of bidding for the Hong Kong-listed luggage manufacturer. Additionally, China-focused DCP Capital Partners, a minority stakeholder in Samsonite, is considering co-investing with other potential bidders.
Should Samsonite proceed with plans to go private, the investment funds might contemplate forming a consortium, the sources added, suggesting the likelihood of more bidders emerging.
Following the Bloomberg News report, Samsonite’s shares rebounded, surging as much as 2.3% after the mid-day trading break in Hong Kong, having fallen 1.9% earlier in the day.
Buyout Giants Eyeing Samsonite: Carlyle, CVC, KKR Among Potential Suitors
The fragmented ownership structure of Samsonite, headquartered in Massachusetts and Luxembourg, could pose challenges for any privatization deal, as it would require only a few opponents to obstruct such a plan, insiders noted.
While talks remain preliminary, with the possibility of parties opting against pursuing a deal, representatives for the buyout firms declined to comment, and a Samsonite spokesperson did not respond immediately to requests for comment.
Samsonite, established in 1910, was acquired by CVC for around $1.7 billion in 2007 before going public in Hong Kong four years later. The company, which markets luggage and travel accessories under brands like American Tourister, Tumi, and High Sierra, has explored the potential for a second listing in the US, as reported by Bloomberg previously.
