newsletter

US Affinion takes majority stake in Turkish services provider

Backup TrMarketing firm Affinion Group is expanding its global reach with a new partner and the acquisition of a majority stake in Back-Up, a concierge service in Turkey.
Affinion is partnering with Turkish consumer-service firm Boyner Holding Co. in marketing Back-Up's services in Turkey.
Financial terms of the agreement were not disclosed.
The deal follows Affinion's expansion into Brazil last year, Finland in 2010 and Spain in 2009. Affinion, which helps companies enhance brand loyalty, has about 4,500 employees and marketing capabilities in 18 countries.
Among the fee-based services offered by Back-Up are medical checkups, ambulance services, roadside assistance and travel options, said Affinion spokesman Michael Bush, adding that the goal will be to expand the offerings.
"We'll explore offering services like we have in the U.S.," Bush said.
Affinion, a unit of Apollo Global Management, provides programs in subscription-based lifestyle services, personal protection, insurance and other areas to help generate increased customer loyalty and revenue for more than 5,570 marketing partners worldwide in financial services, retail, travel and Internet commerce.
"As measured by GDP, Turkey is one of the largest countries in Europe where we lacked a presence," Todd Siegel, chief executive officer of Affinion Group, said in prepared comments. "We see significant parallels between the product suite offered by Back-Up with many of the benefits we've successfully marketed in the U.S. and Europe."

Share this article