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UPDATE 1-Alliance Data to buy Bon-Ton's credit card portfolio
June 19, 2012 / 12:01 PM / 5 years ago

UPDATE 1-Alliance Data to buy Bon-Ton's credit card portfolio

June 19 (Reuters) - Alliance Data Systems Corp said it agreed to acquire Bon-Ton Stores Inc’s private-label credit card portfolio worth $475 million.

Financial terms of the deal were not disclosed.

Alliance Data, which provides private-label credit card services to retailers, said the acquired portfolio carried only a modest level of delinquencies.

The company does not expect the deal to add to its earnings in 2012.

Alliance Data will also manage the retailer’s private-label credit card program.

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