Catalina Completes Key Milestone of Financial Restructuring; Expects to Close Sale of Catalina Marketing Japan K.K. in the Coming Days

Upon Emergence, Catalina Will Move Forward with Significantly Strengthened Balance Sheet to Accelerate Investment in Strategic Growth Areas

ST. PETERSBURG, Fla., April 28, 2023 /PRNewswire/ -- Catalina, a market leader in shopper intelligence, today announced that the United States Bankruptcy Court for the Southern District of New York ("the Court") has confirmed the company's prepackaged Plan of Reorganization. Catalina expects to close the sale of its Japanese entity, Catalina Marketing Japan K.K., to Yosemite 2 K.K. and successfully emerge from chapter 11 in the coming days. Upon emergence, Catalina will substantially reduce its debt and move forward with a significantly strengthened balance sheet to accelerate investment in strategic growth areas.

"We are pleased to have achieved this key milestone in our financial restructuring," said Wayne Powers, President and Chief Executive Officer of Catalina. "Catalina will emerge from this process as a stronger partner to our customers, with greater strategic focus and resources to continue innovating and unlocking relevant new data-driven solutions that deliver meaningful value for all stakeholders."

Powers continued, "We were able to achieve this outcome on an accelerated basis thanks to the overwhelming support of Catalina's lenders and the continued trust of our customers, partners and vendors. Most of all, I want to thank the entire Catalina team for their unwavering commitment to serving our customers throughout this process. With this solid financial foundation in place, we are well positioned to grow Catalina's business in the years ahead by focusing on critical investments in AI-enabled data science capabilities, including advanced personalization, measurement as a service, and a portfolio of full funnel marketing solutions that are connected across channels to deliver 1:1 targeted value to consumers."

Additional information is available at Catalina's restructuring website at www.catalinarestructuring.com.

Advisors

Weil, Gotshal & Manges LLP is serving as counsel, Houlihan Lokey Capital is serving as investment banker and FTI Consulting, Inc., is serving as financial advisor to Catalina.

About Catalina

Catalina is a leader in shopper intelligence and highly targeted in-store, TV, radio and digital media that personalizes the shopper journey. Powered by the world's richest real-time shopper database, Catalina helps retailers, CPG brands and agencies optimize every stage of media planning, execution and measurement to deliver $6.1 billion in consumer value annually. Catalina has no higher priority than ensuring the privacy and security of the data entrusted to the company and maintaining consumer trust. Going forward, Catalina will have operations in the United States, Costa Rica and Europe.  To learn more, please visit www.catalina.com.

Media Contacts

Wally Petersen/Catalina
312-804-3475
[email protected]

Andrew Siegel / Andrew Squire
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE Catalina

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