The agreement covers 15 river cruises during 2009, on the Dresden ship on the river Elbe in Germany and the Cezanne on the Seine in northern France.
Saga will sell to groups to travel on seven-night itineraries on the ships, visiting cities including Berlin, Dresden and Paris.
Peter Deilmann, which specialises in five-star river cruises, believes the ships will appeal to Saga’s upmarket customers who are looking for an alternative to ocean cruising or traditional touring holidays.
Managing director Stuart Perl said: “It gives us the opportunity to take our luxury river cruise product to a new and wider audience.”
The river cruise company has signed up a raft of tour operators to work with in the last year, including Great Rail Journeys, as well as widening its retail distribution base through its recent deal with Thomas Cook, as it seeks to significantly strengthen its UK sales.