by By Lisa Grimaldi | November 04, 2009

Carlson Companies has entered an agreement to sell Carlson Marketing, one of the largest global incentive, meeting and event firms, to Groupe Aeroplan, a Canadian loyalty marketing firm, for US$175.3 million. According to a statement released by Carlson on Tuesday, the acquisition is subject to customary closing conditions and standard antitrust approvals in the United States and Canada. Carlson Companies is a private firm; Groupe Aeroplan, which primarily operates consumer loyalty programs including Air Canada's frequent-flyer program, is publicly held and is traded on the Toronto Stock Exchange, according to a spokesperson for Carlson. The sale is expected to go through by early December.