Alliance Data Systems announced what it described as a long-term agreement to issue credit cards for the Midwestern grocery store chain Meijer.
Plano, Texas-based ADS also said that it has purchased Meijers existing credit-card portfolio for an undisclosed price.
The identity of the firm that sold the Meijer portfolio to ADS was not disclosed, but Meijers website states that its credit cards are currently issued by GE Capital Retail Bank.
ADS issues private-label and co-branded credit cards for numerous retailers, including J. Crew, Lane Bryant and Petland.
A news release from ADS stated that the price it paid for the Meijer portfolio is well within norms of the industry.
The news release also said that ADS believes the performance of the acquired portfolio will be consistent with traditional expectations, and all new accounts will be consistent with Alliance Datas traditional credit quality standards.
Grand Rapids, Mich.-based Meijer operates 213 stores in Michigan, Ohio, Indiana, Illinois and Kentucky.