Kroger and Inmar complete sale of YouTech
Kroger Co. has sold its YouTech digital coupon and digital rebate publishing platform to Inmar. The latter will now provide those services to Kroger as a contractor.
The deal carries a $565 million price tag, including $400 million of cash consideration received upon closing. Kroger intends to use the after-tax cash proceeds from the sale to reduce debt.
"We look forward to our new strategic relationship with Inmar, which will bring our unique assets and personalisation expertise together with Inmar's technology solutions to drive more innovation and value for Kroger customers and CPG partners," says Yael Cosset, Kroger's Chief Digital Officer.
As part of the acquisition, Cheryl Black, CEO at YouTech, will join Inmar as Vice President and General Manager, Retail Solutions. "With this acquisition we will be able to accelerate our innovation to deliver a more cost-effective, enhanced product set including better tools, reporting and analytics, as well as broader distribution," says David Mounts, Chairman and CEO at Inmar. "We are excited to have Cheryl join our team and look forward to having her customer focus, retail expertise and entrepreneurial spirit leading product strategy for retail."