Safeway Completes Spin-off of Blackhawk Network

Blackhawk Network Holdings, Inc. (Nasdaq:HAWK) became a 100 percent publicly traded company as a result of Safeway Inc.’s distribution of all its shares of Blackhawk Class B common stock to Safeway stockholders.

“Today marks the completion of the planned separation of Blackhawk Network Holdings from Safeway,” Bill Tauscher, Blackhawk CEO said. “We believe Blackhawk has increased flexibility to pursue new growth strategies, meet the needs of our customers and create opportunities for our stockholders and employees.”

Prior to Tuesday’s distribution, Safeway held approximately 71.9 percent of the 52.6 million outstanding Blackhawk shares, consisting of 37,838,709 shares of Blackhawk’s Class B common stock, and 10,592 shares of Blackhawk’s Class A common stock.

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