Aimia to purchase remaining stake in Nectar Italia
MONTREAL, March 19, 2013 /CNW Telbec/ – Aimia today announced that it
will take full control of the Nectar Italia coalition loyalty program,
acquiring the remaining 25 per cent stake currently held by Banque
Accord S.A.
The purchase price consideration of approximately €7 million ($9
million) will be paid on completion. An additional contingent
consideration, for an amount to be determined, may be paid within the
next two years, based on the performance of the program.
Over the three years since its launch in March 2010, Nectar Italia has
signed up over 9.5 million members. Anchored by long term contracts
with retailers Auchan, Simply Sma and a Nectar Italia co-branded
financial cards offering, the program has 14 sponsor partners today.
Rupert Duchesne, Group CEO, said: “Our ability to deliver significant
numbers of new members despite the deterioration in the Italian economy
over the last three years is testament to the value members can derive
from participating in coalition loyalty programs. We continue to make
investments based on the value that we believe they can bring over the
longer term for shareholders.”
The transaction is expected to close within the next 60 days.
About Aimia
Aimia Inc. (“Aimia”) is a global leader in loyalty management. Employing
more than 4,000 people in over 20 countries worldwide, Aimia offers
clients, partners and members proven expertise in launching and
managing coalition loyalty programs, delivering proprietary loyalty
services, creating value through loyalty analytics and driving
innovation in the emerging digital, mobile and social communications
spaces.
Aimia owns and operates Aeroplan, Canada’s premier coalition loyalty
program and Nectar, the United Kingdom’s largest coalition loyalty
program. In addition, Aimia owns stakes in Air Miles Middle East,
Nectar Italia, Mexico’s leading coalition loyalty program Club Premier,
Brazil’s Prismah Fidelidade, and i2c, a joint venture with Sainsbury’s
offering insight and data analytics services in the UK to retailers and
suppliers. Aimia also holds a minority position in Cardlytics, a
US-based private company operating in transaction-driven marketing for
electronic banking. Aimia is listed on the Toronto Stock Exchange (TSX:
AIM). For more information, visit us at www.aimia.com
SOURCE: AIMIA
Contact:
Media
Krista Pawley
416- 352 3794
krista.pawley@aimia.com
Analysts & Investors
Karen Keyes
514-205-7163
karen.keyes@aimia.com
Megan Ratcliffe
+44-20-7152 4881
Megan.ratcliffe@aimia.com