The latest household name to be bought by a private equity firm is US luggage manufacturer Samsonite. The British group CVC Capital Partners is paying 1.25 billion euros in cash and including debt.
The company, which is almost 100 years old, makes suitcases and travel-related products under the Samsonite brand and others including American Tourister, Lacoste and Timberland.
CVC said it sees interesting opportunities for growth in places like India and China, where more and more people can now afford to travel.
This is the latest of many sales for Samsonite; with CVC it will have had five owners in the last 20 years.