5 Companies Owned by Carnival Corp. (CCL)

Carnival Corp.: An Overview

Carnival Corp. & plc (CCL) is both a major brand in the cruise line business and an umbrella company for other cruise lines.

It operates as a dual-listed company with Carnival plc (CCL.L), but the two separate legal entities function as a single economic entity through contractual agreements.

Shares of CCL are traded on the New York Stock Exchange (NYSE) while shares of CCL.L are traded on the London Stock Exchange (LSE).

Its brands cater to different price points, lifestyles, and cultures as well as entertainment and vacation preferences.

CCL posted a 15.9% gain in total revenue of about $25 billion for its fiscal 2024 year. Its market capitalization was about $24.37 billion as of April 20, 2025.

Carnival Cruise Line was founded in 1972 by entrepreneur Ted Arison. The company started with a single used ocean liner that it converted into a cruise liner and renamed the Mardi Gras.

Its growth since was highlighted by its acquisition of other brands, including the five below.

1. Holland America Line N.V.

• Type of Business: Cruise Line
• Acquisition Price: $625 million
• Acquisition Date: 1989

This early acquisition by Carnival expanded its passenger capacity by about 50%, according to a report at the time.

Holland America Line traces its origins to the founding of a shipping and passenger line called Netherlands-American Steamship Co. in 1873. In its early years, the company operated a fleet of six cargo and passenger ships between Holland and the Dutch East Indies.

The Holland America Line now operates a fleet of 11 ships cruising to over 425 ports in more than 100 countries.

2. Seabourn Cruise Line Ltd.

• Type of Business: Ultra-Luxury Cruise Line
• Acquisition Price: $15 million (initial 25% stake); $10 million (additional 25% stake); unknown amount (remaining 50% stake in 1998)
• Acquisition Date: 1992 (25% stake); 1995-1996 (25% stake); 1998-1999 (remaining 50% stake)

Seabourn Cruise Line was founded in 1988 with the launch of the 208-passenger Seabourn Pride. The idea for the cruise line originated two years earlier among a small group of luxury hospitality and cruising executives looking to reinvent luxury cruising.

Just four years later in 1992, Carnival agreed to purchase a 50% stake in Seabourn via two separate ten-year loans of $15 million and $10 million. With the $15 million loan Carnival acquired an initial 25% stake in Seabourn. The second loan for $10 million secured an additional 25% stake in late 1995. In 1998, the company purchased the remaining 50% stake in Seabourn. At the same time, Carnival acquired Cunard Line Ltd. and combined it with Seabourn.

Today, Seabourn operates a fleet of three 458-passenger and two 600-passenger ships offering an ultra-luxury cruising experience in over 400 destinations globally.

3. Costa

• Type of Business: Cruise Line
• Acquisition Price: approx. $141 million (for initial 50% stake), part of $270 million joint purchase price with Airtours Plc; approx. $515 million (remaining stake)
• Acquisition Date: 1997 (initial 50% stake); 2000 (remaining stake)

Costa made its first voyage from Genoa to Buenos Aires in 1948 with a trans-Atlantic liner named the “Anna C”. By the 1960s, the Italy-based company was Europe’s largest cruise line.

Costa was jointly acquired in 1997 by Carnival and Airtours, each of the two companies purchasing a respective 50% stake. Three years later, Carnival purchased the remaining stake in Costa from Airtours for approximately $515 million.

The acquisition of Costa bolstered Carnival’s presence in the fast-growing European market. Carnival is now the parent company of both Costa Cruise Lines and AIDA Cruises.

Today, Costa operates a fleet of 12 ships and visits over 260 ports around the world. AIDA leads the German-speaking cruise market and currently operates a fleet of 13 cruise ships.

4. Cunard Line Ltd.

• Type of Business: Luxury Cruise Line
• Acquisition Price: $500 million (initial 68% stake); $205 million (remaining stake)
• Acquisition Date: 1998 (initial 68% stake); 1999 (remaining 32% stake)

The Cunard Line was founded in 1840 by war veteran and timber merchant Samuel Cunard. It started out providing mail service in Canada’s maritime region before eventually expanding its services across the Atlantic and establishing itself as an international shipping company.

During the 1880s, Cunard transported more than one million of the 2.5 million people seeking to settle in the U.S. The company continued to grow and expand over the next century.

Cunard was operating five luxury cruise ships by 1998, the year Carnival and a group of investors purchased its operating assets for $500 million. Carnival acquired a 68% interest in the cruise line and consolidated it with Seabourn, of which the company had simultaneously purchased the remaining stake.

In 1999, Carnival purchased the remaining 32% stake in Cunard in a deal worth $205 million.

The purchase of Cunard, the largest luxury cruise operator in the world at the time, made Carnival the largest cruise company in the world. Cunard currently operates four luxury cruise vessels, including the Queen Mary 2, the Queen Victoria, the Queen Elizabeth, and the Queen Anne.

5. P&O Cruises

• Type of Business: Cruise Line
• Acquisition Price: approx. $7-$7.8 billion
• Acquisition Date: 2003

P&O Cruises was founded in 1837 as the Peninsular & Oriental Steam Navigation Co. While the company started out primarily transporting mail, it went on to offer its first leisure cruise from London to the Mediterranean in 1844.

Cruising would gradually grow in popularity and become a more regular activity by the mid-1880s.

In 2003, the company’s cruise operations, known as P&O Princess Cruises Plc, were acquired by Carnival for between $7-$8 billion. The acquisition included Princess Cruises, P&O Cruises, P&O Cruises Australia, and tour operator Princess Tours.

The merger between the two companies led to the formation of the dual-listed company (Carnival Corp. and Carnival Plc) discussed in the introduction above. It made Carnival the first global cruise company.

Today, Carnival operates P&O as two separate brands: P&O Cruises (U.K.), which operates a fleet of six premium ships; and P&O Cruises (Australia), which operates a fleet of three ships.

The Bottom Line

Carnival Corp. expanded by buying up rivals in various segments of the cruise business, primarily ultra-luxury lines and companies with a strong brand identity outside the U.S. It is now the world’s biggest cruise operator, with its closest rival being the Royal Caribbean Group.