AmaWaterways has a new stakeholder in global investment firm L Catterton.
The Greenwich, Conn.-based consumer-focused private equity firm has acquired a significant stake in AmaWaterways from a consortium of investors led by New York-based travel and hospitality investor group Certares LP, which sold its entire investment in the river cruise line.
Certares, which holds investments in G Adventures and American Express Global Business Travel, had been an investor in AmaWaterways since 2017.
L Catterton joins as the fifth investor in AmaWaterways, which was founded in 2002 by Rudi Schreiner, Kristin Karst and Gary Murphy, all of whom will continue to have meaningful ownership in the company.
What L Catterton brings to AmaWaterways
Schreiner said L Catterton, which has majority investments in brands including Birkenstock and West Marine, brings unique consumer insight as well as ideas as to how the brands can work together to capitalize on growth opportunities.
"They share our passion for innovation and an unwavering commitment to creating unparalleled guest experiences," Schreiner said. "We look forward to working with them to continuously expand and enhance our river cruise portfolio for our customers."
L Catterton was formed in 2016 through the partnership of Catterton, luxury goods company LVMH and Financiere Agache, the family office of Bernard Arnault, who is the CEO of LVMH.
LVMH owns fashion brands like Louis Vuitton and luxury travel and hospitality brand Belmond.
The new partnership between L Catterton and AmaWaterways could lead to the line expanding its luxury offerings, which Marc Magliacano, a managing partner at L Catterton, said the company is looking forward to exploring with AmaWaterways.
"As consumers' desire for unforgettable luxury travel experiences continues to grow, we understand the importance of creating highly curated and memorable opportunities for guests to see the world," Magliacano said. "We look forward to leveraging our global network and deep expertise across travel to identify new growth opportunities and thoughtful expansion initiatives, while empowering the innovative and pioneering spirit that has driven AmaWaterways' success over the last two decades."
Expansion under Certares
Colin Farmer, senior managing director and head of the management committee at Certares, said that the company was proud to have had a role in AmaWaterways' expansion and growth over the past few years, which includes the 2021 launch of the AmaLucia, which has Farmer's two children for godparents.
"We are extremely proud to have had a role in AmaWaterways' growth over the last many years, including the significant additions to the company's fleet, entry into new cruise destination markets, enhanced relationships with travel advisor partners and expanding upon the innovative and extraordinary experiences AmaWaterways provides its guests daily," Farmer said.
"We wish our partners and everyone at the company nothing but continued success in this next chapter."