When the deal completes in December it will be the largest acquisition of a DM agency in recent years. One loyalty expert described the purchase price as "a huge amount of money for a loyalty business". (See below for more industry reaction to the deal.)
Aeroplan, the loyalty company spun off from Air Canada, acquired Carlson, including its UK office, from US hotel and travel firm Carlson Companies.
Groupe Aeroplan says it will keep Carlson Marketing operating separately and independently. Carlson Marketing's management team, led by President and CEO Jeff Balagna, will continue to run the loyalty firm.
Minneapolis-headquartered Carlson has offices in the US, Europe, Asia and the Middle East, and a star line-up of clients including AT&T, Nokia, Amtrak, the Radisson hotel chain and Muller.
Groupe Aeroplan already runs major loyalty programmes in Canada, the UK and the Middle East, but wanted a larger operation in the US.
The Carlson Marketing UK management team remains unchanged: Jonathan Harman, president, EMEA; John Hiney, managing director; Piggy Lines, executive creative director; Guy Culshaw, planning director; Jed Murphy, digital director; Mark Sage, loyalty director.
The deal is expected to close by early December, and will be financed with Aeroplan's own cash and bank loans.
"Acquiring a proven leader in the loyalty marketing space is the most cost effective and timeliest route to broadening our loyalty services offering," said Rupert Duchesne, President and CEO of Groupe Aeroplan.
"Carlson Marketing is widely recognised for their innovative thinking when it comes to understanding consumer behaviour, rewards and data analytics, areas that are pivotal to driving future growth in the global loyalty arena."
Carlson's UK clients include BT, the COI, Hyundai, Muller, Nestle, RBS and TFL. The agency designed and runs Coca-Cola's loyalty scheme, Coke Zone, which has over a million members.
New UK business this year includes the Transport for London partnership account and new campaigns include a Hyundai campaign launch, several digital campaigns for Muller and the £3.5m Anchor Great Escape promotion.
Industry reaction to the deal
"Loyalty never went away but a lot of people thought that with the recession, programmes that provided great value would be cut. What this deal is saying is that, while we've gone through a recession, and as the US comes out of theirs, brands will need to start the dialogue with their customers again, especially if they've gone elsewhere."
Wanda Goldwag, former executive director of AirMiles
"Carlson is a big operation, particularly in the US. So that price is not inconceivable, given that they're global. But that said, I am very surprised to hear of this, as the Carlson family has kept that company close to their chests for years.
"There is definitely consolidation going on. There are undervalued assets around the place and if you've got the cash, it's a good time to buy."
Colin Lloyd, DM business investor, chairman of the Advisory Board of the Volume Group, chairman of Motivcon, and a former president of the Direct Marketing Association and the Institute of Sales Promotion.
"We are definitely going to see more integration of this kind in the industry as agencies are increasingly looking to broaden their offer. This week's CACI/Monitor Media deal is another example of this trend.
"The power is shifting to agencies who can offer the holy trinity of direct, data and digital services. Agencies with this killer offer are extremely well placed for the future. Expect to see more deals involving a combination of these skill sets."
Keith Hunt, managing partner at Results International
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