Media Release: Clayton Utz advises Woolworths on acquisition of Shopper Media Group
Clayton Utz has advised Woolworths Group Limited (Woolworths) on its acquisition of Shopper Media Group (Shopper) for a cash consideration of $150 million. The transaction was announced to the market yesterday.
Corporate partner Geoff Hoffman led our multidisciplinary transaction team, core members of which included senior associate Megan Williams and lawyer Natasha Cutler (Corporate), and from our Competition team, partner and National Practice Group Leader Kirsten Webb, and senior associates Doug Thompson and Amy Hayes. The team was well supported by partners and lawyers from our Banking & Financial Services, IP & Technology, Real Estate, and Workplace Relations, Employment and Safety practice groups.
Woolworths' retail media business, Cartology, will buy 100% of the equity in Shopper, a 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. Cartology provides customer-led retail media solutions to connect brands with customers at the point of sale.
The transaction is subject to Australian Competition and Consumer Commission approval and the satisfaction of customary closing conditions, with completion expected to occur by the end of calendar year 2022.
Commenting on the deal, Geoff Hoffman said:
We are delighted to have assisted the Woolworths and Cartology teams in this exciting new opportunity.
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