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Desjardins acquires Best Buy branded credit cards
Desjardins Group has acquired the private label credit card operations of Best Buy Canada. The agreement includes the branded credit cards of the electronics retail chains Best Buy Canada and Future Shop. Desjardins will also acquire most of the outstanding loans and client accounts attached to those cards. Best Buy Canada and Future Shop stores nationally will now offer financing from Desjardins for in-store purchases.
"We pride ourselves on creating an unparalleled shopping experience in-store and online, and we're thrilled to partner with Desjardins to offer their competitive financing solutions to our customers," said Philippe Arrata, senior vice-president for Best Buy Canada. "We're confident that the innovations produced by our companies will create a strong business relationship that will benefit our current and future cardholders most of all."