Sainsbury's acquires Nectar

UK supermarket Sainsbury’s has confirm the acquisition of Nectar, the loyalty programme that it uses, for 60 million pounds.

The deal through the acquisition of the shares of Aimia Inc's UK business, means that Sainsbury’s now owns all assets, colleagues, systems and licences required for the full and independent operation of the Nectar loyalty programme in the UK.

Sainsbury’s has been a member of the Nectar programme since it launched in 2002. The loyalty programme has more than 20 million members, who earn Nectar points when shopping for groceries, booking a holiday or buying petrol. It’s rewards include money off shopping, travel, days out and even cinema tickets.

The acquisition will now see Sainsbury’s taking charge of the UK operation in a move that it states supports its “strategy of knowing its customers better than anyone else”.

The supermarket added that the transaction will be immediately cash positive and earnings accretive.

It added: “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.”

David Johnston, group chief executive, Aimia, 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.”

Image: courtesy of Nectar