Sainsbury(J) PLC Acquisition of Nectar from Aimia Inc
February 01 2018 - 6:37AM
Dow Jones News
TIDMSBRY
RNS Number : 6407D
Sainsbury(J) PLC
01 February 2018
1 February 2018
J Sainsbury plc
Acquisition of Nectar from Aimia Inc
Sainsbury's has today, through the acquisition of the shares of
Aimia Inc's UK business, acquired all assets, colleagues, systems
and licences required for the full and independent operation of the
Nectar loyalty programme in the UK.
Sainsbury's has paid GBP60m for the Nectar business and assets.
The transaction will be immediately cash positive and earnings
accretive. We expect goodwill to be generated as a result of the
acquisition and the alignment of accounting policies.
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.
Investor Relations Enquiries:
James Collins +44 (0) 20 7695 0080
Media Relations Enquiries:
Rebecca Reilly +44 (0) 20 7695 7295
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
February 01, 2018 06:22 ET (11:22 GMT)
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