Is it possible to use this to refine a newsletter to a user?

I'm looking for a solution to email out a newsletter to all users, but with each newsletter slightly different based on either passing a user argument through the view, or by triggering the view 'as' each user.

So for example, rather like how a an online shop might send out a newsletter of items that a user might be interested in based on their previous purchases.

Can this module do that?