Mount Laurel-based Premier Outdoor Media announced that it was acquired by Lamar Advertising.
The all-cash transaction marks a strategic expansion across the Northeast Corridor and bolsters Lamar’s already significant national footprint with nearly 200 additional billboard faces, including 45 digital units, in key markets spanning New Jersey, Delaware, Maryland, Pennsylvania and New York.
Financial terms of the deal were not disclosed.
“We are proud of the platform we’ve built and the value we’ve created over the past several years,” Dominick Vastino, CEO of Premier Outdoor Media, said. “Lamar is a first-rate operator and we’re confident they will continue to deliver exceptional service to our clients.”
“This acquisition enhances our position in the greater Philadelphia and New York markets, including southern New Jersey, and is consistent with our strategy of adding high-quality, REIT-qualified assets to our portfolio,” Sean Reilly, CEO of Lamar added.
