Woolworths Group’s retail media business, Cartology, is set to purchase retail out-of-home business, Shopper, for $150 million.
According to Shopper, the sale is a “significant milestone” for the business, recognising its growth and success while emphasising the increasing importance of retail OOH in the Australian media landscape.
“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,” says Shopper co-founder and CEO Ed Couche.
“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 CY 2022.
“Importantly, for the period through to completion, Shopper and Cartology will remain separate businesses and Shopper will continue to service our agencies, brands and property partners operationally on a day-to-day basis,” says Shopper.