That's how much Steiner Leisure Holdings is shelling out to Starwood Hotels & Resorts Worldwide, Inc to acquire Bliss World Holdings, Inc., reports WWD.
Steiner, which operates spas and salons on 126 cruise ships, 51 resort spas and two luxury day spas, also owns skin care brands, such as Elemis and La Therapie.
Bliss has become a worldwide phenomenon thanks in part to original founder Marcia Kilgore's unique medley of wit and luxury.
Kilgore sold Bliss to LVMH in 1999 for a reported $30 million and Starwood bought it from the luxury conglomerate in 2004 for a reported $25 million.
The Bliss line of products, with names like HighThighs and FatGirlSlim, has become a cult favorite and its marketing campaigns have always been on the cutting edge. According to WWD, Bliss' annual sales are approximately $85 million.
Steiner's president and CEO Leonard Fluxman talked about "the opportunity to introduce Bliss products and broaden the appeal of the brand through our distribution channels," with Wall Street analysts via phone, reported the source.
Does this mean we can expect Bliss Spas to set sail? We'll have to wait and "sea."