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Loyalty program company Aimia sells Nectar business to Sainsbury’s for $105M

Loyalty program company Aimia sells Nectar business to Sainsbury's for $105M | iNFOnews.ca
An AIMIA logo is shown at the company's annual general meeting in Montreal, Friday, May 4, 2012. Data-driven marketing and loyalty analytics company Aimia Inc. today announced it has sold its Nectar loyalty program and related assets (including the Nectar trademarks) to J Sainsbury plc. E CANADIAN PRESS/Graham Hughes

MONTREAL – Loyalty program company Aimia Inc. has sold its Nectar program and related assets to J Sainsbury PLC for approximately $105 million.

Sainsbury’s was a founding partner of the Nectar program when it started in 2002.

The British retailer is focused on groceries, general merchandise, clothing and financial services.

Aimia says the sale of Nectar will allow the Montreal-based company to focus on Aeroplan, its largest and most profitable business, and simplifies its operations.

The company has been working to prepare for the end of its agreement with Air Canada.

The airline served notice last year that it does not plan to renew its 30-plus year partnership when the current contract ends in 2020.

Aimia has been broadening Aeroplan beyond just being a flight provider by adding car rentals partners, hotels and dining.

Companies in this story: (TSX:AIM, TSX:AC)

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Abbey Westbury

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