- Royal Caribbean Group sells its Azamara brand to Sycamore Partners
- The sale included Azamaraโs three-ship fleet and associated intellectual property
- Royal Caribbean Group will focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea Cruises brands
Royal Caribbean Group today announced it completed the sale of its Azamara brand to Sycamore Partners, a private equity firm specializing in consumer, retail and distribution investments, in an all-cash transaction for $201 million. The sale included Azamaraโs three-ship fleet and associated intellectual property.
This strategic deal allows the Group to focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea Cruises brands.
โThis creates huge opportunities for all parties,โ said Richard D. Fain, Chairman and CEO of Royal Caribbean Group. โIn fact, as we are inking this deal today, Azamara already has added a fourth ship to their fleet. I am confident that the brandโs success and growth trajectory will continue under the stewardship of Sycamore.โ
โWe look forward to guiding and supporting Azamara in its next phase of growth,โ said Stefan Kaluzny, Managing Director of Sycamore Partners. โThe brandโs high guest engagement, personalized service and unique Destination Immersion strategy, position it strongly for continued growth in the upmarket space.โ
Perellaย Weinberg Partners LP served as financial advisor toย Royal Caribbean Groupย andโฏFreshfields Bruckhaus Deringer LLPโฏprovided legal counsel. Kirkland & Ellis LLP provided legal advice to Sycamore Partners.