Stamford-based financial services company Synchrony has agreed to acquire Lowe’s commercial co-branded credit-card portfolio, according to a regulatory filing. Synchrony would become the card issuer and assume about $800 million in loan receivables as a result of the deal, the financial terms of which were not disclosed. Synchrony, which is headquartered at 777 Long Ridge […]
Stamford-based financial services company Synchrony has agreed to acquire Lowe’s commercial co-branded credit-card portfolio, according to a regulatory filing.
Synchrony would become the card issuer and assume about $800 million in loan receivables as a result of the deal, the financial terms of which were not disclosed.
Synchrony, which is headquartered at 777 Long Ridge Road, expects to record a reserve of up to $50 million in connection with the deal during the third quarter of 2025, the company said in a document filed with the U.S. Securities and Exchange Commission on Monday.
Synchrony said it expects to complete the deal and launch the credit-card portfolio in the first half of 2026, subject to closing conditions.
In early June,
Synchrony partnered with OnePay, a financial technology platform that is majority-owned by mega-retailer Walmart, to develop a private-label Walmart credit card program.
