Safeway to IPO stake in pre-paid subsidiary Blackhawk Network

Source: Safeway

Safeway Inc. (NYSE: SWY) today announced that it plans to file a registration statement in the United States for a potential initial public offering (IPO) of a minority ownership stake in Blackhawk Network Holdings, Inc.

Depending on market conditions, the company anticipates executing a transaction in the first half of 2013.

Blackhawk Network Holdings, Inc., a subsidiary of Safeway Inc., operates Blackhawk Network, Inc., a leading prepaid payments network for consumers and businesses. The company offers the industry's most popular prepaid gift cards and payment services from leading brands through a network of leading grocery stores, big box, convenience, pharmacy, specialty stores and Internet retailers including GiftCardMall.com. Blackhawk operates a proprietary network that connects to over 500 content providers and over 70,000 active retail distribution locations globally.

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