Cruise1st attracts potential buyers as owner Royal Caribbean puts agency up for sale

Cruise1st attracts potential buyers as owner Royal Caribbean puts agency up for sale

Royal Caribbean-owned cruise agency Cruise1st has been put up for sale and is understood to have attracted at least three potential trade buyers.

It is known that at least one of the cruise specialist agencies interested in buying the business has submitted an offer for Cruise1st, which is a trading division of Sunshine Cruise Holidays and employs more than 100 staff in the UK, Australia and Singapore.

In a statement, Manchester-based Cruise1st said it was “exploring the possibility” of an external sale and also strongly considering a management buyout.

Royal Caribbean declined to comment.

A source told Travel Weekly that a deal could be struck within the next couple of weeks.

Dan Townsley, chief executive of Cruise1st, said he was eager to weigh up options for the business, adding: “We’re in a position to explore our options and make the right choice for the business that will support our ambitious growth plans.”

The agency launched in 2000 and was acquired by Island Cruises three years later. Following the merger of First Choice and Tui UK, Cruise1st became wholly owned by Royal Caribbean Cruises in 2008.

In the past four years the agency’s booking numbers are claimed to have grown by 83%, and Townsley said the business had “aggressive expansion plans”.

The cruise sector has witnessed several acquisitions in recent years, including Iglu Cruise’s purchase of Planet Cruise in 2013 and dnata taking a stake in Imagine Cruising last month.

Private equity firms have also shown interest in cruise businesses, with both Cruise.co.uk and Iglu Cruise receiving backing.

The latter received further investment last week in a deal, believed to be worth £60 million, with private equity backer LDC. This prompted Iglu founder Richard Downs to say he was looking at acquisitions.

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