A deal has been agreed for Cartology, a part of Woolworths Group’s retail media subsidiary, to acquire Shopper Media altogether for around $150 million in cash.
The digital out-of-home media company, formerly known as Shopper Media Group but now known simply as Shopper, is a market leader in targeting advertising and currently has over 2,000 screens dispersed throughout 400 shopping centers in Australia.
“Retail media is growing swiftly and is a critical component of Woolworths Group,” said Brad Banducci, CEO of the Woolworths Group. Cartology, our out-of-home media company, and Shopper, whose complementary retail media strengths will be combined, excite us.
“Shopper’s screen network offers marketers extraordinary retail context and closeness,” said Cartology’s managing director Mike Tyquin. Due to Shopper’s large investment in technology, the company is driving the way for innovation in retail out-of-home media.
According to Woolworths, the purchase will be subject to ACCC approval and the satisfaction of customary closing requirements. The goal is to have it finished by the end of 2022.
Tyquin oversaw the launch of Cartology in 2019 at Woolworths, which had just finished its third year of business. The company now employs more than 200 people in New Zealand and Australia and has 1500 screens in its digital advertising network.
Cartology has been expanding ever since its debut. It increased its offerings last month to become BIG W’s sole retail media partner, allowing it to link companies and customers both in-person and online. The firm also hired Sophie Hicks Lloyd of Network 10 to supervise the offering.
The shopper has been operating since 2015, and the company’s rebranding from the previous year mirrored its shift in focus toward technology, analytics, and digital products. A new look, feel, and logo was also included in the updated “Closer to Customers” motto.
Ed Couche, Shopper’s former COO and founding partner, took over as CEO earlier this year when his fellow co-founder and dear friend Ben Walker passed away in January of this year.
Couche has tremendous expertise in the OOH industry before joining Shopper, having spent 14 years between Ooh Media and the UK subsidiary of JC Decaux.
Additionally, Shopper joined the Outdoor Media Association in March of last year (OMA).
Woolworths Group has a $45.53 billion market cap and a share price of $37.51.
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