Shopper Media to be bought by Woolworths’ Cartology for $150m
Cartology, a division of Woolworths Group’s retail media unit, has reached an agreement to buy Shopper Media outright for about $150 million in cash.
As a market leader in targeting advertising, the digital out-of-home media company, which changed its name from Shopper Media Group to just Shopper in 2021, presently has over 2,000 screens spread throughout 400 shopping centres in Australia.
Brad Banducci, the CEO of Woolworths Group, stated: “Retail media is evolving quickly and is a crucial component of Woolworths Group. We are enthusiastic about the chance to combine Cartology, our out-of-home media firm, and Shopper’s complementing strengths in retail media”.
Cartology’s managing director, Mike Tyquin, continued: “Shopper’s screen network offers marketers exceptional retail context and closeness. The business is paving the path for innovation in retail out-of-home media owing to Shopper’s significant investment in technology.”
The transaction will be subject to ACCC clearance and fulfilment of usual closing conditions, according to Woolworths. It is expected to be finished by the end of 2022.
Tyquin led the 2019 Woolworths launch of Cartology, which just completed its third year of operation. With 1500 screens in its digital advertising network, the company now has over 200 employees working in New Zealand and Australia.
Since its launch, Cartology has been on a growth trajectory. Last month, it expanded its services to become the exclusive retail media partner for BIG W, enabling it to connect businesses and customers both in-store and online. Additionally, Sophie Hicks Lloyd of Network 10 was engaged by the corporation to oversee the offering.
Shopper has been in business since 2015, and last year’s rebranding reflected the company’s shift in emphasis on technology, data and digital products. The new “Closer to Customers” slogan also featured a new style, feel, and logo.
After his fellow co-founder and close friend Ben Walker passed away in January of this year, Shopper’s previous COO and founding partner Ed Couche assumed the position of CEO earlier this year.
Prior to joining Shopper, Couche spent 14 years between Ooh Media and the UK division of JC Decaux, giving him a wealth of experience in the OOH sector.
Additionally, in March of last year, Shopper joined the Outdoor Media Association (OMA).
The market capitalization of Woolworths Group is $45.53 billion, with a share price of $37.51