Nothing Mickey Mouse About This Carnival Cruise Deal

Carnival Cruise Lines Inc. has agreed to acquire Premier Cruise Lines in a deal valued at $372 million. The acquisition could open up additional markets for the giant cruise company.

Carnival, whose subsidiaries include Holland America Line and Windstar Cruises, is the largest cruise line in the world in terms of passengers carried – over 950,000 in 1990. It has a fleet of 15 ships with 16,000 berths. Premier, which is 80 percent owned by Dial Corp. (formerly Greyhound), has three ships with 2,950 berths.

Premier offers cruises between Port Canaveral in Florida and the Bahamas. In addition, it has an agreement which allows it to bill itself as the “official” cruise line of Disney World in Florida and arrange package deals with the amusement park. The arrangement helps it attract young families to its ships. It is negotiating to sign a similar deal with the Walt Disney Co. for its Disneyland amusement park in Anaheim, California. Analysts point out that Disney also has an amusement park in Japan and is about to open one in France, so the acquisition might help Carnival eventually expand abroad. A company spokesman said, however, that such speculation was premature.

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