Carnival Cruise Lines bought the official cruise line of Walt Disney World on Monday in a $372 million deal.
The purchase of Premier Cruise Lines adds a fourth brand-name to Carnival’s stable of ship lines. Carnival bought two other firms, Holland America Lines and Windstar Sail Cruises, in 1989.
Carnival Chairman Micky Arison said Premier will continue to operate from Port Canaveral under its current name and management. Last year, Premier carried 335,000 passengers.
Premier, owned by Dial Corp., has a joint marketing agreement with Walt Disney Corp. through 1998. The pact lets Premier tag up with Disney to market a package to travel agents that includes a stay at Disney World, a three- or four-night cruise to the Bahamas and transportation.
“We are delighted to have the opportunity to work with the Disney organization,” Arison said.
The deal will cost Carnival $220 million in Class A common stock. Carnival also will assume payments on two ship charter agreements and make other adjustments that raise the value of the deal to $372 million.
Closing, subject to an antitrust waiting period and approval of the boards of both companies, is expected later this spring.
Premier began operating in 1984 and has three ships with about 2,950 lower passenger berths.
Miami-based Carnival has eight ships, including two that sail from Port Canaveral. The Mardi Gras and Carnivale will continue to be based at Port Canaveral, spokesman Tim Gallagher said.
Seven other ships are operated by Holland America and Windstar.
After the Premier purchase and delivery of the 2,050-passenger Ecstasy in June, Carnival will control 19 ships with a combined capacity of about 20,965 berths.
