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Insights for the Food and Grocery Industry

Cartology, Woolworth’s retail media business, acquires Shopper Media Group in an all-cash deal

Woolworth’s retail media business, Cartology, has purchased an out-of-home player, Shopper Media Group, for $150 million. Woolworths Group broke this news in an ASX statement that it has purchased 100% of the digital out-of-home player. The acquisition was an all-cash deal, and Shopper’s digital out-of-home network includes over 2000 screens in 400 shopping malls across Australia. The Australian newspaper reported that around six investors, including Cartology and Quadrant Private Equity, were trying to acquire the advertising and media platform. Brad Banducci, Woolworths Group CEO, added that the increasing development of retail media had been the key factor behind the supermarket giant’s evolution and this acquisition.

Full story: CMO

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