Luggage maker Samsonite is hoping to bag some extra profit with a new acquisition.
The company is buying its luxury-brand rival Tumi for $1.8-billion.
Tumi is among leading brands for high-end travelers, with some of its carry-on bags selling for almost $2,500.
The deal gives Samsonite a bigger share of the high-end market while Tumi will benefit from being part of a larger company with a wider global reach.
Samsonite CEO says the company will expand Tumi’s presence in Asia and Europe, while strengthening its business in North America.