By  on July 6, 2007

NEW YORK — Luggage-maker Samsonite Corp. agreed to be acquired by private equity firm CVC Capital Partners for an estimated $1.7 billion including the assumption of debt.

Shares of Samsonite, which trade on the OTC Bulletin Board, rose 7.5 percent to $1.43 Thursday morning.

Samsonite, based in Mansfield, Mass., manufactures and distributes luggage, business cases and other travel-related products under brand names Samsonite, Samsonite Black Label, American Tourister, Lacoste, Timberland, and Lamberston Truex. The company operates 300 retail stores in North America, Europe, Asia and Latin America, over 500 shop-in-shop concessions primarily in Asia and over 200 franchised retail stores.

The company said CVC would acquire all outstanding shares for $1.49 a share – a 12 percent premium over Tuesday’s closing price of $1.33 a share.

Ares Management LLC, Bain Capital Partners LLC and Teachers’ Private Capital, which own a collective 85 percent stake in Samsonite stock, approved the merger.

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