Carnival Corporation acquires 50 percent of Costa Cruises, Europe's leading cruise company and takes 100 percent ownership of the Italian cruise operator three years later.

Carnival Corporation & plc is a massive conglomerate that didn't just buy one cruise line, but built a portfolio through major acquisitions. The most significant move was the 2003 merger/acquisition of P&O Princess Cruises, which brought iconic brands like Princess Cruises, P&O Cruises (UK), and P&O Cruises Australia into the fold. Prior to that, Carnival acquired Holland America Line (which included Windstar and Seabourn at the time) in 1989 and Costa Cruises in 1997. As of 2026, the Carnival family owns and operates eight distinct brands: Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Cunard, AIDA Cruises, Costa Cruises, and P&O Cruises. This strategic "multi-brand" approach allows Carnival to dominate various global markets—from the budget-friendly "Fun Ships" in the Caribbean to the ultra-luxury and traditional British elegance of Cunard.