AP News

News Summary: Blackhawk IPO


SHOPPING LISTING: Safeway Inc. said it plans to take its gift card business, Blackhawk Network Inc., public. The grocery chain said Wednesday that it plans to file a registration statement for the initial public offering of a minority stake in the business.

BEYOND GROCERIES: The supermarket operator launched Blackhawk in 2001 as a means to sell customers something beyond the traditional grocery store product lineup. Safeway says Blackhawk is now the nation's largest third-party distribution company in the U.S.

CHECKOUT: Safeway expects the offering to occur in the first half of 2013 but said the exact timing will be based on market conditions. The company gave no details on pricing.


Coke's Big Fat Problem
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus