Royal Caribbean Group has entered into a definitive agreement to sell its Azamara Cruises brand to Sycamore Partners, a New York-based private equity firm specialising in consumer, retail and distribution investments.
Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet and associated intellectual property. The US$201 million, all-cash transaction is subject to customary conditions and is expected to close in the first quarter of 2021.
Royal Caribbean said the transaction will allow it to focus on expanding its Royal Caribbean International, Celebrity Cruises, and Silversea brands.