By Stuart Condie


SYDNEY--Supermarket operator Woolworths Group Ltd. agreed to pay 150 million Australian dollars (US$101.9 million) to acquire out-of-home advertiser Shopper Media Group in an all-cash deal.

Woolworths on Monday said that the acquisition of Shopper Media's 2,000 screens across 400 shopping centers would bolster growth of the ASX-listed company's Cartology retail media unit.

"It will allow us to provide our clients more opportunities to reach their customers via seamless and targeted advertising solutions," Cartology Managing Director Mike Tyquin said.

Woolworths expects the acquisition, which is subject to approval by Australia's competition regulator, to close by the end of the 2022 calendar year.


Write to Stuart Condie at stuart.condie@wsj.com


(END) Dow Jones Newswires

07-17-22 1956ET