Cartology, Woolworths Group’s 100% retail media business, is buying Shopper, the retail out-of-home business.
The deal is worth about $150 million cash.
Shopper offers advertising through a national screen network of more than 2,000 screens in 400 shopping centres.
Woolworths CEO Brad Banducci, said: “Retail media is developing rapidly and is an important part of the evolution of Woolworths Group. We’re excited about the opportunity to bring together the complementary capabilities of our retail media business, Cartology, with Shopper’s expertise in out of home media.”
Cartology MD Mike Tyquin: “Shopper’s screen network offers advertisers outstanding retail context and proximity. Shopper has invested heavily in technology, helping the business pave the way for innovation in retail out of home media.
“The acquisition of the business is an important next step in further unlocking the growth potential of Cartology and accelerating our goal to become the trusted media partner of choice for brands and retailers. It will allow us to provide our clients more opportunities to reach their customers via seamless and targeted advertising solutions.”
Shopper CEO and co-founder, Ed Couche: “This is an exciting development for Shopper, and we believe it will benefit our agencies, advertisers and property partners and the industry overall. Integrating with the Cartology offering will deliver enhanced data and advertising capabilities for Shopper’s existing partners.
“Shopper has achieved great success thanks to the incredible work and dedication of our people and their desire to strive for growth and exceptional business outcomes for our partners. As a business, delivering innovation and the highest service standards has been at the heart to everything we do. This has been fundamental in our success and instrumental in preparing the business for this latest and significant step.”
The transaction remains subject to customary conditions, including ACCC approval, with the sale completion expected to be finalised by the end of the 2022 calendar year.
Shopper and Cartology will remain separate businesses through completition.
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