Atlanta, GA 6/19/12 (StreetBeat) -- Alliance Data Systems (NYSE: ADS) will spend about $475 million to acquire the credit card portfolio of Bon-Ton Stores (Nasdaq: BONT).
Financial terms were not disclosed Tuesday.
Alliance Data will also manage the department store operator's private label credit card program.
The acquisition is targeted to close in the third quarter. Alliance, a loyalty program marketing company, said that it does not expect the deal to add to its 2012 earnings per share partly because of the closing's timing.
Bon-Ton (Nasdaq: BONT), which has corporate headquarters in York, Pa. and Milwaukee, runs 272 stores in 23 states across the Northeast, Midwest and upper Great Plains. The stores include Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's, Younkers, and Parisian, which is in the Detroit area.
Shares of Alliance Data Systems Corp., based in Dallas, added $1.05 to $131.28 in morning trading. Bon-Ton Stores Inc.'s stock rose 32 cents, or 6 percent, to $5.68. The shares have traded between $2.23 and $10.75 over the past year.
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