Colateral completes acquisition of Turbyne creating the first retail media operating system ...
TRURO, United Kingdom, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Colateral, a retail marketing platform, announced today the acquisition of Turbyne, a Delaware-based provider of omnichannel Retail Media capabilities, in a significant move set to transform how retailers compete with Amazon for retail media investment. The combined entity puts in-store first, removing friction for retailers and enabling them to leverage the full scale of their assets. The combined solution unifies any physical advertising inventory with digital by standardizing buying and automating workflow across all channels, including physical media. Together, their capabilities create the complete omnichannel operating system for retailers optimized for in-store and designed for the next wave of retail media.
Integrating Turbyne's revolutionary platform that simplifies planning, selling and executing retail media across any channel or partner; and Colateral's unique in-store inventory management and ad server solution delivers a combined solution that allows retailers to maximize the value of their physical and digital assets through a simple to use platform, harmonizing demand generation, workflow and reporting processes across all channels.
The unified offering is poised to capitalize on the momentum of significant new partnerships, which includes a leading supermarket chain in Europe with more than 700 stores. The solution is currently live with Sprouts Farmers Market, one of the U.S.’s largest natural food retailers with 410 stores across 23 states. This takes the Colateral footprint to almost 10,000 doors across America and Europe.
To further accelerate its potential, the new company is thrilled to announce the appointment of Michael Harris as its new President.
Harris joins the company as a seasoned marketing and media executive with a proven track record of driving business growth and innovation. With extensive retail experience in North America, Harris brings deep expertise in retail media, marketing, digital transformation, data and intelligence.
As the instigator behind the launch of Turbyne within Advantage Solutions, Harris is steeped in retail media knowledge and is excited to bring his knowledge to this breakthrough Retail Media solution for retailers.
“This innovative solution comes at a time when chain retailers are struggling for their fair share of retail media ad dollars by copying Amazon’s digital first playbook and under leveraging the impact and value of their in-store audiences. Retail media's infrastructure gap makes it difficult for retailers to deliver an experience that makes it easy for brands to participate. The combined capabilities of Colateral and Turbyne will address this gap, offering a self-serve, unified solution that integrates in-store and digital channels, a key growth driver for Retail Media Networks,” said Harris.
Dorian Spackman, Founder and CEO of Colateral, said: “We are delighted to have Turbyne join the Colateral family. We believe that Retail Media and Retail Marketing need to work together to deliver integrated customer messaging at the point of purchase. With this coming together of Colateral and Turbyne, we are ideally positioned to be the leader in delivering this next generation capability for the most ambitious omnichannel retailers. We are confident that we will drive unprecedented innovation and deliver exceptional value to our customers.”
About Colateral: Founded in 2015, Colateral is a retail marketing platform that enables retailers to plan, manage and utilize physical marketing inventory and drive revenues from in-store retail media.
www.colateral.io
About Turbyne: Originally founded within Advantage Solutions in 2022, Turbyne makes it easier for chain retailers to plan, sell and execute retail media across any physical or digital channel and with any partner.
www.turbyne.com
Contact: Marc Walkin, marc@colateral.io
