Coles has take full ownership of FlyBuys, Australia's largest and oldest loyalty program, after buying National Australia Bank's 50% stake.
The deal hands Coles 100% ownership of the program. NAB will remain a major participant in the program, which boasts more than 10 million members across Australia.
Coles finance director, Tony Buffin, said Coles was pleased to acquire full ownership of FlyBuys and the opportunity to reinvigorate the program.
"Both Coles and NAB have agreed FlyBuys will see greater success under a single, focussed ownership structure,” said Buffin.
"We believe there are numerous opportunities to enhance the program by creating more value and better rewards for FlyBuys members."
NAB customers can continue to earn reward points for all purchases made on NAB Standard and Gold credit cards which are linked to their FlyBuys' memberships.
Other participating brands include Target, KMart, Liquorland, Jetset, Best Western Hotels and gymnasium chain Curves.
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