Ropes & Gray Advised Samsonite Group in its Agreement to Acquire BÉIS for Approximately $210 Million

Ropes & Gray represented Samsonite Group S.A., which has entered into an agreement to acquire BÉIS, the digitally native lifestyle and travel brand founded by Shay Mitchell, in a transaction valued at approximately $210 million. The transaction was announced on August 12 via press release.

The transaction represents a total enterprise value of approximately $210 million on a cash-free, debt-free basis, subject to a customary net working capital adjustment. Samsonite Group will acquire 85% of the equity of BÉIS for $178.5 million, funded with cash on hand and available borrowing capacity under its revolving credit facility. BÉIS founder Shay Mitchell has agreed to roll over approximately half of her existing equity, retaining a 15% ownership stake following closing. Beach House Group, the majority shareholder of BÉIS, is selling its ownership stake as part of the transaction.

Samsonite Group is the world's largest travel luggage company and a leader in global lifestyle bags, operating a portfolio of brands led by Samsonite, TUMI, and American Tourister.

The team was led by mergers & acquisitions partner Stephanie Lapidus and included IP transactions partner Erica Han, mergers & acquisitions partner Chris Comeau, antitrust partners Zak Goodwin, Diedre Johnson, and Ruchit Patel, tax partner Brandon Dunn, executive compensation & employee benefits partner Renata Ferrari, mergers & acquisitions associate Kelley Murphy, and trademark & copyright associate Jessica Madsen.