Astrum To Acquire American Tourister
Undated (AP) _ Astrum International Corp., makers of Samsonite luggage, said Tuesday it has agreed to purchase the American Tourister luggage business of Hillenbrand Industries Inc. for about $70 million in cash.
The transaction, expected to close in September, is currently under review by appropriate regulatory agencies, New York-based Astrum said.
American Tourister will be operated as a separate company within Astrum, which also makes Culligan water treatment equipment; Botany 500 men’s clothing; Anvil T-Shirts; and Pet Specialties pet food.
American Tourister’s products are sold by mass merchandisers and about 90 company-owned retail outlets.
Hillenbrand Industries is headquartered in Batesville, Ind.