Woolworths Group will acquire 100 per cent of retail media giant Shopper Media for approximately A$150 million in cash considerations.

Shopper has over 2,000 screens across 400 Australian shopping centres. The business will now be controlled by Woolworths’ own retail advertising business, Cartology, which launched in 2019 and has 1,500 screens.

“Retail media is developing rapidly and is an important part of the evolution of Woolworths Group,” said CEO of Woolworths Group, Brad Banducci.

“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.”

Managing director of Cartology, 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 deal is expected to close by the end of the year.