Retail out-of-home business, Shopper is being bought by Woolworths Groups’s Cartology in a multi-million dollar deal.
The deal is set to be worth over $150 million cash, so not exactly loose change, and the buy-out comes only months after the Founder and CEO of Shopper, Ben Walker, tragically passed away in his sleep at only 47 years old.
Cartology delivers marketing solutions led by data that helps brands connect with customers, and now it is set to buy all the equity in Shopper, hence why it’s shelling out the big bucks. Shopper was only founded in 2015 and already advertises through a network of over 2000 screens in more than 400 shopping centres.
The Financial Review has reported that 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.”
AFR also reported that Cartology MD Mike Tyquin said: “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.”
