Kroger has completed the sale of You Technology LLC, a digital coupon and digital rebate publishing platform to Inmar and finalized the long-term service agreement with Inmar to provide digital coupon services to all the Kroger family of stores.
- You Technology LLC was sold to Inmar for consideration of USD400 million. The retailer plans to use the consideration amount to reduce its debt.
- Inmar and YouTech together will have the enhanced capabilities to bring in innovation and new products to the market faster meeting the needs of CPGs and retailers.
- Post-acquisition, Cheryl Black, CEO of YouTech will work collaboratively with Inmar’s Executive Management Team as Vice President and General Manager, Retail Solutions.
Source: Kroger Press release