Safeway Gives Blackhawk The Green Light for Initial Public Offering

Safeway Inc. (NYSE:SWY) is planning to hive off a minority stake in its leading prepaid payment network and gift card business, known as Blackhawk Network Holdings Inc., and take it public through an IPO planned for the first half of 2013. The press release announcing the above decision by Safeway Inc. (NYSE:SWY) describes Blackhawk as follows: “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…