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Alliance Data to buy BNPL player Bread

Alliance Data to buy BNPL player Bread

Marketing, loyalty and payments specialist Alliance Data has agreed a $450 million stock and cash acquisition of buy now, pay later firm Bread.

The deal gives the firm a place in the fast-growing BNPL payment market. Alliance Data is securing Bread's has more than 400 installment loan or BNPL clients as well as technology that it can offer to its own existing partners.

Ralph Andretta, CEO, Alliance Data, says: "As part of our broader transformation efforts, the acquisition of Bread significantly expands our digital capabilities and payment options for our brand partners and their customers, while providing another reason for retailers and brands to choose Alliance Data to help them grow their businesses."

The transaction, which includes $100 million of Alliance Data's common stock, is slated to close in the fourth quarter and is expected to be accretive by no later than year three.

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