October 5, 2004: Headlines: COS - Peru: Business: Luggage: NY Post: Peru RPCV Charlie Clifford sells Tumi Luggage

Peace Corps Online: Directory: Peru: Peace Corps Peru: The Peace Corps in Peru: October 5, 2004: Headlines: COS - Peru: Business: Luggage: NY Post: Peru RPCV Charlie Clifford sells Tumi Luggage

By Admin1 (admin) (pool-141-157-9-111.balt.east.verizon.net - 141.157.9.111) on Saturday, October 09, 2004 - 12:39 am: Edit Post

Peru RPCV Charlie Clifford sells Tumi Luggage

Peru RPCV Charlie Clifford sells Tumi Luggage

Peru RPCV Charlie Clifford sells Tumi Luggage

U.K. DEAL FOR TUMI LUGGAGE

By ERICA COPULSKY

October 5, 2004 -- Doughty Hanson & Co. has sealed a deal to buy luxe luggage maker Tumi Inc., The Post has learned.

The U.K.-based buyout firm has agreed to buy Tumi, the South Plainfield, N.J., designer of high-end suitcases, garment bags, backpacks and business accessories, for roughly $275 million, sources close to the situation said.

A deal could be announced as early as today.

Officials at Tumi and Doughty Hanson couldn't be reached at press time.

As The Post previously reported, Tumi was put on the block earlier this summer by its controlling investor, Oaktree Capital Management, for a price tag of more than $200 million.

Tumi received interest from several strategic buyers, including Coach Inc. and Samsonite, as well as private-equity firms, such as Investcorp and Oakhill Capital Partners.

Tumi was founded in 1975 by Charlie Clifford, who named the company after an Inca god known to him through his Peace Corps stint in South America. Over the years, the Tumi brand has attracted a loyal following among affluent corporate travelers and high-profile celebrities.





When this story was posted in October 2004, this was on the front page of PCOL:


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Story Source: NY Post

This story has been posted in the following forums: : Headlines; COS - Peru; Business; Luggage

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