Synchrony Financial Acquires Allegro Credit

Eric Volkman, The Motley Fool
·2-min read
Synchrony Financial Acquires Allegro Credit

Synchrony Financial (NYSE: SYF) is soon to be one asset larger if an agreed deal goes through. The store payment card specialist announced Tuesday that it has signed a definitive agreement to acquire privately held Allegro Credit. Owning Allegro would complement Synchrony's client base, which is still concentrated on the retail stores that have collectively taken an enormous hit due to the economic fallout of the coronavirus pandemic.