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eBags Acquired By Samsonite For $105M

Greenwood Village, Colorado-based eBags, which sells luggage and other related products online, has been acquired by Samsonite, in a deal worth $105M in cash. Samsonite said the deal will help it accelerate the growth of its direct-to-consumer, e-commerce business. eBags, which is led by CEO Mike Edwards, had sales of $158.51M for its fiscal year ended December 31, 2016, the companies said.