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Feb 1, 2018

Aimia sells Nectar loyalty card business to British retailer Sainsbury's for $105M


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MONTREAL -- Loyalty program company Aimia Inc. has sold its Nectar program and related assets to J Sainsbury PLC for approximately $105 million.

Sainsbury's was a founding partner of the Nectar program when it started in 2002.

The British retailer is focused on groceries, general merchandise, clothing and financial services.

Aimia says the sale of Nectar will allow the Montreal-based company to focus on Aeroplan, its largest and most profitable business, and simplifies its operations.

The company has been working to prepare for the end of its agreement with Air Canada.

The airline served notice last year that it does not plan to renew its 30-plus year partnership when the current contract ends in 2020.

Aimia has been broadening Aeroplan beyond just being a flight provider by adding car rentals partners, hotels and dining.