by Lisa Grimaldi | December 09, 2009

Canadian loyalty marketing firm Groupe Aeroplan has completed its acquisition of Carlson Marketing, one of the oldest and largest global incentive, meeting and event firms. Last month, Carlson Companies sold Carlson Marketing to Groupe Aeroplan for US$175.3 million. According to a statement released Monday, Groupe Aeroplan's existing businesses and Carlson Marketing will continue to operate independently. Jeff Balagna, president and CEO of Carlson Marketing, and his executive team will continue to manage the firm. Balagna also has been named executive vice president of Groupe Aeroplan, which primarily operates consumer loyalty programs, including Air Canada's frequent-flyer program.