A buyout firm with ties to luxury goods retailer LVMH is considering a sale of One Spa World, a cruise ship and resort spa operator that could fetch about $1 billion, according to people familiar with the matter.

L Catterton, a private equity firm that invests in consumer goods, is working with Bank of America Corp. and Nomura Holdings Inc. to seek buyers for One Spa, said the people, who asked not to be identified because the matter is private. One Spa earns about $70 million annually after taxes, one of the people said.

Representatives for Greenwich, Connecticut-based L Catterton and Nomura declined to comment. A Bank of America representative didn’t have an immediate response.

L Catterton acquired One Spa through a 2015 buyout of spa and massage-therapy school operator Steiner Leisure Ltd. worth about $925 million, including debt. It later divided Steiner into several parts, including: One Spa, which runs spas on sea and land; Cortiva Institute, which trains masseuses and other skin-care professionals; and product lines such as Elemis and Ideal Image.

L Catterton was formed in 2016 when French luxury goods giant LVMH combined its private equity and real estate investment units with consumer-focused buyout firm Catterton, which had invested in well-known American brands since its founding in 1989. L Catterton, which manages $14 billion, currently owns stakes in fitness club Equinox and Edible Arrangements LLC, the maker of fresh fruit bouquets. according to its website.

–With assistance from Laura J. Keller.

©2018 Bloomberg L.P.

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Photo Credit: The spa area aboard Royal Caribbean International's Allure of the Seas is pictured. The owner of One Spa World, which operates spas on many cruise ships, is reportedly considering a sale. Royal Caribbean International