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Fairness Opinion Detail

TUMI FOOpen source

Tumi Holdings, Inc. to Samsonite International

Luxury & Apparel/Mar 2016/Goldman Sachs

Deal Information

Target
Tumi Holdings, Inc.
Acquiror
Samsonite International
Sector
Luxury & Apparel
Target Type
Public
Acquiror Type
Strategic
Advisors
Goldman Sachs

Transaction Metrics

Enterprise Value
EV / LTM Sales
EV / LTM EBITDA
13.8x
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: Goldman Sachs

EV/LTM EBITDA selected range: 10.0x - 16.0x

12 comps
Apr 2004Vans, Inc.VF Corporation--15.2x-
Oct 2004Tumi, Inc.Doughty Hanson & Co.--11.9x-
Nov 2004Jimmy Choo PLCLion Capital LLP--13.5x-
Feb 2007Jimmy Choo PLCTowerBrook Capital Partners, L.P.--13.7x-
Apr 2007Puma SEPPR SA--12.2x-
Oct 2007Samsonite International S.A.CVC Capital Partners--15.6x-
Apr 2008Hublot S.A.LVMH Moët Hennessy Louis Vuitton SE--12.0x-
May 2010Stuart Weitzman Holdings, LLCJones Apparel Group, Inc.--8.0x-
Oct 2010Hermès International S.A.
Date announced listed as October 2010/ December 2011 — two dates shown in the source table, likely reflecting initial stake acquisition and subsequent event.
LVMH Moët Hennessy Louis Vuitton SE--12.4x-
Nov 2011Brioni S.p.A.PPR SA--19.4x-
Jul 2012Helly Hansen ASTeachers Private Capital--14.1x-
Sep 2014R.G. Barry CorporationMill Road Capital Management LLC and The Blackstone Group L.P.--10.4x-
Mean-13.2x-
Median-12.9x-