BMO completes US$160M deal to purchase Air Miles loyalty rewards program

“Going forward, BMO ownership gives the program stability, but more importantly, the opportunity for us to invest in the program,” said Air Miles president Shawn Stewart.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.

Last summer, Sobeys and Safeway owner Empire Co. Ltd. and office supply retailer Staples said they would be scrapping the program, a year after the Liquor Control Board of Ontario and Lowe’s Canada pulled out. Stewart said the main complaint coming from program partners was a lack of investment in the Air Miles program, an issue the acquisition is expected to address.

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BMO completes US$160M deal to purchase Air Miles loyalty rewards programBMO Financial Group closed its acquisition of the Air Miles loyalty rewards program in Canada on Thursday.
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