Maritz Inc. announced today that it has sold its Canadian loyalty firm, Bond Brand Loyalty, to that company's management.
Maritz is not abandoning the Canadian loyalty market, however. Rather, the sale is to enable the St. Louis-based incentive motivation firm to focus its resources and investments on full service, points-based loyalty marketing programs for large companies through its Maritz Motivation Solutions
brand, said Steve Maritz, Chairman and CEO of Maritz Inc
. The companies will continue to work together where it makes sense for clients, he added.
"This decision makes all the sense in the world for Maritz and where we're headed with loyalty," added Barry Kirk, vice president of Loyalty for Maritz Motivation Solutions. "Our colleagues at Bond are extremely good at what they do, but it happens to be very different than what we do in the loyalty space. Their expertise for years has been more focused on brand development and experiential marketing. This allows each part of the organization to really move off and focus on what they do best."
Bob Macdonald, president and CEO of Toronto-based Bond Brand Loyalty
, put it this way: "Our specialty is helping clients forge stronger bonds between their brands and their customers, focusing on building loyalty across the entire customer experience continuum," he said.
After 30 years, Maritz Motivation Solutions fully intends to continue investing money and human capital into the loyalty market, developing and delivering "innovative technology, science-based people-focused strategies, and the best rewards in the business," added John McArthur, president of Maritz Motivation Solutions.