Royal Caribbean Group has acquired the remaining shares of Silversea Cruises two years after it purchased a two-third stake in the ultra-luxury cruise company.
Silversea announced the original partnership with Royal Caribbean Group – which until recently was known as Royal Caribbean Cruises Ltd – in late June 2018, which included the ‘Project Invictus’, a multi-year initiative to take Silversea’s ultra-luxury offerings to the next level.
Royal Caribbean Group Chairman and CEO Richard Fain said Silversea had been a great fit for the company since day one.
“The cultures of the two organisations have proven to be harmonious, and guests have responded favourably to the combination,” Fain said.
Manfredi Lefebvre d’Ovidio, who took over the company from his late father, will serve as chairman of Silversea. Roberto Martinoli will remain the brand’s President and CEO.
“Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand’s unique audience,” Fain said. “Their skills – and Manfredi’s inimitable style – will continue to play an important role in growing Silversea into the future.”
Said Lefebvre: “The combination of our companies has been everything I hoped for. The skills and resources of the Royal Caribbean Group have helped us grow and flourish. We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group.”
Added Martinoli: “Thanks to the incredible resources and skills of Royal Caribbean Group, Silversea will grow and thrive. Today marks another key step in our drive to uncontested leadership in ultra-luxury and expedition cruising.”
The remaining one-third stake held by Heritage Cruise Holding Ltd was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, which represents about 2.5% of the total common stock.
Meanwhile, coinciding with the parent company name change, Royal Caribbean Group has formally introduced a new corporate identity which incorporates the traditional crown and anchor, now encased in a blue circle.
Other cruise brands under the Royal Caribbean Group umbrella including Royal Caribbean International, Celebrity Cruises and Azamara, as well as Hapag-Lloyd Cruises and TUI Cruises.
Lead image: Silver Muse