Royal Caribbean Group has announced the sales of its Azamara brand to Sycamore Partners. As reported by Eturbonews.com, Royal Caribbean Group will focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea Cruises brands.

The group disclosed that it has completed the sale of its Azamara brand to Sycamore Partners, a private equity firm specialising in consumer, retail and distribution investments, in an all-cash transaction for $201 million. The sale included Azamara’s three-ship fleet and associated intellectual property.

“This creates huge opportunities for all parties,” said Richard D. Fain, chairman and CEO of Royal Caribbean Group. “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.’’

While Stefan Kaluzny, managing director of Sycamore Partners said that: “We look forward to guiding and supporting Azamara in its next phase of growth,” adding that: “The brand’s high guest engagement, personalized service and unique destination immersion strategy, position it strongly for continued growth in the upmarket space.” Perella Weinberg Partners LP served as financial advisor to Royal Caribbean Group and Freshfields Bruckhaus Deringer LLP provided legal counsel. Kirkland and Ellis LLP provided legal advice to Sycamore Partners.