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Samsonite has agreed buy US online bag retailer eBags for $105m as the luggage company seeks to expand its e-commerce presence.

Hong Kong-listed Samsonite announced the deal with Colorado-based eBags on Friday morning. Samsonite bought luxury rival Tumi in March for $1.8bn.

Samsonite said:

The Acquisition will give the Company a strong platform to help accelerate the growth of the Company’s direct-to-consumer e-commerce business in North America and worldwide. It will also provide the Company with immediate resources and digital know-how to strengthen the Company’s existing digital capabilities.

Samsonite said the deal will be financed by internal resources and a revolving credit facility, and is expected to be completed by the second quarter.

Copyright The Financial Times Limited 2017. All rights reserved.

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