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Safeway Inc. plans to file for a potential initial public offering (IPO) of a minority ownership stake in Blackhawk Network Holdings, Inc., a subsidiary of the Pleasanton, Calif.-based grocer that operates Blackhawk Network, Inc., a prepaid payments network for consumers and businesses.
Depending on market conditions, the company anticipates executing a transaction in the first half of 2013.
Blackhawk offers prepaid gift cards and payment services from leading brands through a network of 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.