RCG-Royal Caribbean Group announced it had completed the sale of its Azamara brand to the private equity firm specializing in consumer, retail, and distribution investments, Sycamore Partners, in an all-cash transaction for US$201 million.
The sale included the 3-ship fleet and associated intellectual property of Azamara.
The strategic deal allows RCG to focus on expanding its RCI-Royal Caribbean International, Celebrity, and Silversea brands.
According to Richard D. Fain, Chairman & CEO of Royal Caribbean Group, that created huge opportunities for all parties.
“In fact, as we are inking this deal today, Azamara already has added a fourth ship to their fleet. I am confident that the brand’s success and growth trajectory will continue under the stewardship of Sycamore.”