BMO Financial Group announced a deal Friday to acquire the Air Miles loyalty rewards program from LoyaltyOne Co.
Yet Air Miles has lost a string of big retailers in Canada in recent years.
Loyalty Ventures Inc., the parent company of LoyaltyOne, filed for Chapter 11 bankruptcy in the U.S. on Friday. It also delisted its common stock from the Nasdaq. The sale transaction is contingent on LoyaltyOne not receiving a more favourable offer and will require court approval. The bank is approaching Air Miles with a “long-term perspective, not a short-term tactical” approach a holding company based in another country might take, she said.
The data collected through these programs is used to target customers with tailor-made marketing offers and promotions in a bid to increase sales and loyalty. Stewart, who joined Air Miles last spring after eight years building and growing Canadian Tire Corp.’s Triangle Rewards loyalty program, said it’s an increasingly competitive marketplace.Article content
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BMO Financial Group signs deal to acquire Air Miles loyalty rewards programBMO Financial Group has signed a deal to acquire the Air Miles loyalty program.
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BMO Financial Group signs deal to acquire Air Miles loyalty rewards program - BNN BloombergBMO Financial has signed a deal to acquire the Air Miles loyalty rewards program from LoyaltyOne Co.
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BMO Financial Group signs deal to acquire Air Miles loyalty rewards programBMO Financial Group announced a deal Friday to acquire the Air Miles loyalty rewards program from LoyaltyOne Co.
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BMO signs deal to acquire Air Miles loyalty programBMO Financial Group has signed a deal to acquire the Air Miles loyalty program. Find out more
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