Acquisition of Nectar from Aimia Inc

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 £60m 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   [phone]

Media Relations Enquiries:

Rebecca Reilly   [phone]  

 

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