PHOTO: Sir Richard Branson's Virgin brand will soon encompass a cruise line. (Photo by Paul Kane/Getty Images)

After confirming start-up plans earlier this year, international investment group Virgin has officially announced the creation of Virgin Cruises.

In a press release, the Branson family-owned investment group confirmed the formation of its brand new cruise line business, announcing a CEO and lead investment partner as well.

Virgin Cruises will be based in the Miami/Fort Lauderdale area, but the company has yet to specify when it will begin operating. However, the company already has plans in place to build two new ships.

Tom McAlpin will function as the CEO of Virgin Cruises, while also serving as the head of the management team.

Meanwhile, Bain Capital has been confirmed as the cruise line's main investment partner after a Sky News report singled out the Boston-based private equity giant last month.

RELATED: TravelPulse Cruise Editor Theresa Norton Masek weighs on in the new Virgin Cruises and the key executives who will run it.

"We plan to shake up the cruise industry and deliver a holiday that customers will absolutely love. They'll be sailing on the latest ships offering great quality, a real sense of fun, and many exciting activities all delivered with the famed Virgin service," said Virgin Group founder Sir Richard Branson in a statement.

While it remains to be seen exactly how Virgin Cruises will set itself apart from the other cruise lines, it appears that the company's leaders have settled on a singular vision.

McAlpin, a former president of The World, Residences at Sea and Disney Cruise Line, didn't give anything away, but expressed confidence in the new cruise line's plan: "Cruise guests deserve something better and different to what is being offered today, and Virgin Cruises is committed to creating breathtaking experiences for them and a new generation of guests."

"Opportunities like this do not come often, so I am very excited to lead this business and introduce the Virgin brand to the cruise industry, as it has always put customers at the heart of what it does," McAlpin added.

While Virgin's announcement sheds light on the group's latest venture and is sure to generate plenty of buzz, it remains to be seen when the new cruise line will be up and running and competiting with the industry's proven giants.

Nonetheless, there'll be no shortage of eager travelers waiting to climb aboard for the maiden voyage.

Follow @_Pat_Clarke