Steiner Leisure Limited has announced it has completed the acquisition of the assets of Cortiva Group Inc., a family of 12 massage campuses located in Arizona, Florida, Illinois, Massachusetts, New Jersey, Pennsylvania and Washington.
Steiner is a provider of spa services and operations worldwide, with maritime (cruise) and resort operations in more than 175 venues at sea and on land, according to the company’s website. Steiner also manufactures and distributes skin-, body- and hair-care products, and operates massage, skincare and spa-management educational programs.
On Oct. 14 MASSAGE Magazine reported that Steiner had entered into an agreement to purchase Cortiva.
The purchase price of the Cortiva acquisition, funded from existing cash and through borrowings under Steiner’s credit facility, was $33 million, the press released noted.