1. News
February 5, 2018

Sainsbury’s acquires Nectar business from Aimia in Canada

UK-based supermarket chain Sainsbury’s has acquired Canadian data-driven marketing and loyalty analytics company Aimia for £60m.

UK-based supermarket chain Sainsbury’s has acquired Canadian data-driven marketing and loyalty analytics company Aimia for £60m.

According to the deal, Sainsbury’s has agreed to acquire Aimia’s Nectar loyalty programme and related assets, including the Nectar trademarks.

Sainsbury’s is reported to be one of the founding partners of the Nectar coalition in 2002.

“Selling the Nectar business to Sainsbury’s was the optimal risk-adjusted outcome for Aimia.”

Aimia Group chief executive David Johnston said: “Selling the Nectar business to Sainsbury’s was the optimal risk-adjusted outcome for Aimia and we have worked to ensure a seamless transition for collectors and employees.

“The transaction allows for a sharper focus on Aeroplan, our largest and most profitable business, and simplifies our operations all the while preserving a robust balance sheet for our ongoing business.”

The completion of the deal is subject to customary working capital adjustments based on closing accounts.

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Upon completion, Aimia will continue to deliver customer insights and data analytics platforms to customers outside the UK.

The businesses acquired by Sainsbury’s will be presented as discontinued operations in the financial statements and accompanied with the management discussions and analysis (MD&A) for the year ending 31 December last year.

For this transaction, RBC Capital Markets is said to have served as the financial adviser to Aimia.