The firm also announced a new parental leave policy and celebrated an important milestone
Clayton Utz has helped supermarket operator Woolworths Group to successfully snap up digital advertising company Shopper Media Group.
Pursuant to the transaction, Woolworths’ retail media business Cartology will fully acquire Shopper Media for a cash consideration of $150m. According to Woolworths CEO Brad Banducci, the acquisition is an “important part of the evolution of Woolworths Group.”
“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 said.
Cartology managing director Mike Tyquin said that the acquisition would further unlock the growth potential of the company and accelerate its goal to become the trusted media partner of choice for brands and retailers. Moreover, the deal would allow Cartology to provide its clients with additional opportunities to reach their customers through seamless and targeted advertising solutions.
The transaction is expected to be completed by the end of calendar year 2022, subject to ACCC approval and the satisfaction of customary closing conditions.
Corporate partner Geoff Hoffman led Clayton Utz’s multidisciplinary transaction team in guiding Woolworths on the transaction. He was joined by corporate senior associate Megan Williams and corporate lawyer Natasha Cutler, as well as partner Kirsten Webb and senior associates Doug Thompson and Amy Hayes from the competition team.
Several partners and lawyers from the firm’s banking and financial services, IP and technology, real estate, and workplace relations, employment and safety practice groups also provided legal support.
New parent-friendly policy and pro bono milestone
Earlier this month, Clayton Utz also announced that its staff would be entitled to 26 weeks of paid parental leave beginning 1 July. Both primary and secondary carers would be granted the benefit.
Employees would have the freedom to take the leave as they wished over a two-year period.
“The amount and flexibility of paid parental leave can make a difference to people and their choice of, and commitment to, an employer. Changes to drop distinctions between primary and secondary carers are an important part of our new policy, as is the flexibility in how any parental leave can be taken,” CEP Bruce Cooper said.
In addition, the firm welcomed the 25th anniversary of its pro bono practice, which is headed by partner David Hillard. Hillard was Clayton Utz’s first pro bono lawyer, and later its first pro bono partner.
“Twenty-five years of pro bono practice has shaped Clayton Utz and helped shift perceptions of what it means to be a successful law firm in Australia,” he said. “When I started our pro bono practice in 1997, the Australian law firm pro bono community could meet in a phone booth. Today, structured pro bono practices acting for vulnerable clients, and led by dedicated pro bono partners and specialist lawyers, have become the norm at Australia's large law firms. Pro bono simply is now part of what we do, and the Australian pro bono culture is one of the world's strongest.”