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WOOLWORTHS GROUP LIMITED — M&A Activity 2022
Jul 17, 2022
66075_rns_2022-07-17_a0141c8b-f42d-4a89-a14a-4c4d04ddb796.pdf
M&A Activity
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18 July 2022
ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000
Woolworths Group to acquire Shopper Media Group
Please see attached an announcement on Woolworths Group’s proposal to acquire Shopper Media Group.
Authorised by: Kate Eastoe, Group Company Secretary
For further information contact
| For further information contact | For further information contact |
|---|---|
| Investors and analysts Paul van Meurs Head of Investor Relations +61 407 521 651 |
Media Woolworths Press Offce [email protected] +61 2 8885 1033 |
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Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153
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18 July 2022
Woolworths Group to acquire Shopper Media Group
Woolworths Group today announces that Cartology, the Group’s retail media business, has agreed to acquire 100% of Shopper Media Group (‘Shopper’) for a cash consideration of approximately $150 million. Shopper is a leading Australian digital out of home media company, offering targeted shopper advertising through a national screen network of more than 2,000 screens in over 400 shopping centres.
Woolworths Group 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.”
Cartology Managing Director, Mike Tyquin, added: “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.”
The transaction is subject to ACCC approval and the satisfaction of customary closing conditions, with completion expected to occur by the end of calendar year 2022.
About Cartology
Cartology was established in 2019 as Woolworths Group’s retail media business and employs over 200 team members across Australia and New Zealand. Cartology provides customer-led retail media solutions to connect brands with customers when it matters most. Cartology’s digital advertising network comprises over 1,500 screens. https://www.cartology.com.au/
About Shopper
Shopper was founded in 2015 and employs approximately 50 team members. Shopper’s network includes approximately 2,000 digital advertising screens across more than 400 shopping centres in Australia. https://www.shoppermedia.com.au/
Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153
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For further information contact
| For further information contact | For further information contact |
|---|---|
| Investors and analysts Paul van Meurs Head of Investor Relations +61 407 521 651 |
Media Woolworths Press Offce [email protected] +61 2 8885 1033 |
Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153