Business
Jefferson Capital to Acquire Credit Card Portfolio with Face Value of $488 Million
MINNEAPOLIS, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Jefferson Capital, Inc. (NASDAQ: JCAP) (“Jefferson Capital”), a leading analytically driven purchaser and
About this update from Jefferson Capital, Inc.
[{"type":"text","content":"MINNEAPOLIS, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Jefferson Capital, Inc. (NASDAQ: JCAP) (“Jefferson Capital”), a leading analytically driven purchaser and manager of charged-off and insolvency consumer accounts, announced today that a wholly owned subsidiary has entered into a definitive asset purchase agreement to acquire a portfolio of credit card assets from affiliates of Bluestem Brands (“Bluestem”). As part of the transaction, Jefferson Capital will pay a gross purchase price of $302.8 million to acquire a revolving loan portfolio for which the ability to draw on the receivables has been suspended with face value of $488.2 million. At closing, the gross purchase price will be adjusted for interim portfolio cash flows (net of servicing expense and adjusted for new purchases) from a cut-off date of June 30, 2025 through the closing date. “Following last year’s Conn’s portfolio purchase, this transaction solidifies our leadership position as a strategic acquirer of a wide spectrum of dislocated consumer credit assets in complex situations,” said David Burton, Jefferson Capital’s Chairman and CEO. “Our unique expertise in small balance active and charged off portfolios allows us to offer comprehensive solutions for sellers with run-off portfolios while generating attractive returns for our shareholders.” In connection with the portfolio purchase, Jefferson Capital will enter into an interim servicing agreement with Bluestem to facilitate the orderly transition of the portfolio servicing activities to CardWorks Servicing, LLC, a leading credit card servicer. The transaction will be funded with existing capacity under Jefferson Capital’s senior secured revolving credit facility. Jefferson Capital does not intend to pursue any on-going originations through the Bluestem platform, and the transaction does not include any of the retail operations or assets of Bluestem. The Bluestem portfolio purchase is expected to close in the fourth quarter of 2025 subject to customary regulatory approvals. Houlihan Lokey is serving as exclusive financial advisor and Reed Smith LLP is acting as acquisition counsel to Bluestem. About Jefferson Capital, Inc.Founded in 2002, Jefferson Capital is an analytically driven purchaser and manager of charged-off and insolvency consumer accounts with operations in the United States, Canada, the United Kingdom an...