Woolworths' Cartology business buys Shopper Media Group for $150m

Supermarket giant's retail media business acquires digital out-of-home player in an all-cash deal

Woolworths’ Cartology retail media business has become the successful purchaser of out-of-home player, Shopper Media Group, acquiring the company for $150 million.

In an ASX statement this morning, Woolworths Group confirmed it had agreed to acquire 100 per cent of the Shopper Media Group business under an all-cash deal worth approximately $150 million. Shopper’s digital OOH network includes more than 2000 screens in 400 shopping centres across Australia.

The conclusion of the deal followed speculation reported in The Australian in May that up to six players were in the running to buy the advertising business. As well as Cartology, the list reportedly included several private equity firms such as Quadrant Private Equity, which owns fellow outdoor advertising company, QMS.

The sale of Shopper comes seven months after its co-founder, Ben Walker, suddenly passed away aged 47. The business has about 50 employees.

Woolworths Group CEO, Brad Banducci, said the growing importance and development of retail media was key to the supermarket giant’s evolution. According to Forrester Research, digital advertising sold by retailers and marketplaces in the US will amount to US$40 billion in 2022, up 39 per cent from the previous year. Forrester projects that number will rise to more than US$85 billion by 2026.

In Australia, PwC figures for the burgeoning retailer media sector indicate the sector was worth $850 million in 2021. It's expected to grow at a compound annual growth rate of 20.3 per cent to hit $2.1 billion by 2026.

“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,” Banducci stated.

“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,” Cartology managing director, Mike Tyquin, added. “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.

The Cartology retail media business was established by Woolworths in 2019 with a remit to roll out a national digital screen network across Woolworths supermarkets and build media buying, creative production and reporting capabilities to advertisers.

Don’t miss out on the wealth of insight and content provided by CMO A/NZ and sign up to our weekly CMO Digest newsletters and information services here.  

You can also follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page       


Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

More Brand Posts

What are Chris Riddell's qualifications to talk about technology? What are the awards that Chris Riddell has won? I cannot seem to find ...


Digital disruption isn’t disruption anymore: Why it’s time to refocus your business

Read more



CMO's top 10 martech stories for the week - 9 June

Read more

Great e-commerce article!

Vadim Frost

CMO’s State of CX Leadership 2022 report finds the CX striving to align to business outcomes

Read more

Are you searching something related to Lottery and Lottery App then Agnito Technologies can be a help for you Agnito comes out as a true ...


The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration

Read more

Thorough testing and quality assurance are required for a bug-free Lottery Platform. I'm looking forward to dependability.

Ella Hall

The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration

Read more

Blog Posts

Marketing prowess versus the enigma of the metaverse

Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.

Liz Miller

VP, Constellation Research

Why Excellent Leadership Begins with Vertical Growth

Why is it there is no shortage of leadership development materials, yet outstanding leadership is so rare? Despite having access to so many leadership principles, tools, systems and processes, why is it so hard to develop and improve as a leader?

Michael Bunting

Author, leadership expert

More than money talks in sports sponsorship

As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.

Simone Waugh

Managing Director, Publicis Queensland

Sign in