Criteo acquires retail media company Brandcrush

Ad tech firm Criteo has acquired Melbourne-based Brandcrush to further grow its retail media business.

Why it matters: The deal expands the publicly traded company's reach in a growing advertising sector, especially with ads inside physical retail stores.

Of note: Financial terms of the deal were not disclosed.

How it works: Brandcrush is an omnichannel retail media platform that includes helping retailers manage and measure in-store and out-of-store ads. Those offline channels were a missing element of Criteo's tools, general manager of global enterprise Sherry Smith says.

• Offline ads could be product samples or signage in-store and ads at gas stations or electric vehicle chargers. Some retailers have managed those ads in an "antiquated fashion" with spreadsheets, giving rise to new digital tools like Brandcrush, Smith says.

Details: Founded in 2018, Brandcrush is based in Australia but has business in the U.S. and U.K. Clients include Marley Spoon and HelloFresh.

• All Brandcrush employees, which is about 20 people, are joining Criteo. The deal also expands the Paris-based company's presence in the APAC region. Criteo already has a Sydney office.

Catch up quick: Criteo works with 175 retailers globally, and its retail media business manages about $1 billion in media spend.

• In addition to building internally, the company has grown its retail media business through acquisitions like HookLogic for sponsored products in 2016, Storetail for the display side in 2018, Gradiant.io for managing e-commerce shelves in 2020 and Mabaya for marketplaces in 2021.