Luggage Maker Samsonite Buys Apple Case Maker Speck for $85 Million

In its first acquisition outside the luggage space, Samsonite is buying Speck Products, a maker of cases for iPhones, Macs and other digital gear, in a deal valued at $85 million.

“The acquisition offers Samsonite the opportunity to participate in the large and growing smartphone-case market, which in the U.S. alone is estimated to be worth $2.3 billion, as well as in the tablet-case market, where Speck is also a leader,” said Tom Korbas, Americas president for Samsonite.

Speck, which started in 2001, has been looking to rebound after a tough 2013 in which the industry had a surplus of cases on the market.

“Although Speck experienced a temporary setback in 2013 from its historically strong results when the business was impacted by an industry-wide overhang in inventory from 2012, efforts to restructure the business are already well underway,” Irene Baran, CEO of Speck Products, said in a statement.

This article originally appeared on Recode.net.

Explanatory journalism is a public good

At Vox, we believe that everyone deserves access to information that helps them understand and shape the world they live in. That's why we keep our work free. Support our mission and help keep Vox free for all by making a financial contribution to Vox today.

One-Time Monthly Annual

$95/year

$120/year

$250/year

$350/year

Other

$

Yes, I'll give $120/year

Yes, I'll give $120/year

We accept credit card, Apple Pay, and Google Pay. You can also contribute via