Ponant is one step closer to expanding its fleet of nine cruiseships to 14 vessels by 2021.

The Jean-Emmanuel Sauvee-led cruise company plans to acquire Paul Gauguin Cruises' one 332-berth vessel, aptly named Paul Gauguin.

"We share the same core values," president Jean-Emaanuelle Sauvee said.

"The synergy between our operations makes this the perfect collaboration while preserving the unique DNA of both brand experiences.”

Neither company disclosed financial terms.

Diane Moore will stay on as Paul Gauguin Cruises chief executive based in Bellevue, Washington, while Ponant Americas chief executive Navin Sawhney will remain in New York.

"Through Paul Gauguin and its expertise, we will be able to offer our clients and partners yet another bucket list destination visiting the exotic islands of Tahiti, French Polynesia and the South Pacific,” Sawhney said.

Ponant was founded in 1988 by Sauvee and 12 officers from the French Merchant Navy.

“With this strategic alliance we look forward to delivering even more unique, luxury, small-ship experiences to our guests," Paul Gauguin Cruises chairman Richard Bailey said.