Sainbury’s purchases Nectar for £60m
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Sainsbury’s has today acquired the Nectar loyalty scheme for £60m from Aimia.
The supermarket, which has been a member of the Nectar scheme since 2002, has purchased all assets including colleagues, systems and licences.
Canadian marketing firm Aimia purchased Nectar in 2007 for £368million.
A spokesperson for Sainbury’s stated: “Acquiring Nectar supports Sainsbury’s strategy of knowing its customers better than anyone else.
“There is no change for customers as a result of the acquisition and they should continue to collect and redeem their Nectar points as normal.
“We expect goodwill to be generated as a result of the acquisition and the alignment of accounting policies.”
Sainsbury’s has paid £60m for the Nectar business and assets.
The transaction will be immediately cash positive and earnings accretive.
