Sainsbury(J) PLC Acquisition of Nectar from Aimia Inc
RNS Number : 6407D
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
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February 01, 2018 06:22 ET (11:22 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.