Robbins LLP: Acquisition of Tumi Holdings, Inc. (TUMI) by Samsonite International S.A. May Not Be in Shareholders' Best Interests

Robbins LLP are investigating the proposed acquisition of Tumi Holdings, Inc. (TUMI) by Samsonite International S.A. On March 3, 2016, the two companies announced the signing of a definitive merger agreement pursuant to which Samsonite International will acquire Tumi Holdings. Under the terms of the agreement, Tumi Holdings shareholders will receive $26.75 in cash for each share of Tumi Holdings common stock.

Is the Proposed Acquisition Best for Tumi Holdings and Its Shareholders?

Robbins LLP's investigation focuses on whether the board of directors at Tumi Holdings is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.

On February 24, 2016, Tumi Holdings reported strong earnings results for its fourth quarter 2015. Specifically, Tumi Holdings reported an 8.8% increase in adjusted net income of $25.8 million, or $0.38 per diluted share. Additionally, Tumi holdings reported a 6.7% increase in adjusted net sales of $547.7 million for the year of 2015, compared to $527.2 million in the year ended December 31, 2014. Tumi Holdings also reported adjusted EBITDA of $44.8 million, an increase of 56.6% compared to $28.6 million for the third quarter 2015. In commenting on these results, Tumi Holdings Chief Executive Officer and President Jerome Griffith remarked, "Looking ahead, we will continue to make strategic investments to support our long-term growth initiatives and remain deeply committed to creating innovative products with exceptional quality and functionality for the global citizen…Overall, we are excited about the growth opportunities ahead of us."

In light of these facts, Robbins LLP is examining Tumi Holdings' board of directors' decision to sell the company now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.

Tumi Holdings shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information.

Tumi Holdings shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.