Royal Caribbean Cruises has completed the acquisition of Silversea Cruises.
The companies announced today they have closed on Royal Caribbean’s acquisition of a two-thirds stake in Silversea after receiving final approval from regulators.
The investment unites two leading players in the cruise industry and fills out Royal Caribbean’s portfolio of cruise brands across all key market segments.
“We are proud to officially welcome Silversea’s industry-leading team to the Royal Caribbean family,” said Richard Fain, chairman of Royal Caribbean Cruises.
“This is a dynamite combination and we can’t wait to work with Manfredi, Roberto and the entire team as together we take Silversea to the next level.”
Regulators green-lighted Royal Caribbean’s purchase of a 66.7 per cent equity stake in Silversea Cruises, based on an enterprise value of approximately $2 billion.
Manfredi Lefebvre d’Ovidio will remain executive chairman of Silversea and retain a 33.3 per cent stake.
“We’re excited to join the Royal Caribbean family and ready to begin this next chapter as part of an industry leader that is uniquely qualified to support Silversea’s future growth,” said Lefebvre.
“This partnership enables us to realize our vision of being the uncontested leader in ultra-luxury cruising and expedition, taking our guests to more than 1,000 destinations aboard some of the world’s most luxurious vessels.”
The companies also announced Project Invictus, a multi-year initiative to take Silversea’s ultra-luxury offerings to the next level.
Project Invictus enhancements range from product upgrades to magnified ship revitalization programs.
“Our intent is to solidify our already strong leadership position with an exciting array of upgrades that thrill our guests,” said Roberto Martinoli, Silversea chief executive.
The first Invictus enhancements will begin rolling out on the Silver Muse later in August, where an upgraded champagne and caviar offering will be initiated.
Immediately thereafter, these and other enhancements will be implemented fleet wide, impacting a wide variety of onboard features and strengthening Silversea’s reputation for indulgent, luxurious embellishments.